Currency in India - A Full Guide 2024
Planning a trip to India? Whether you’re heading there for work or pleasure, you’ll need to know how to pay your way as you travel.
This guide covers all you’ll need to know about the official currency in India, where to get it and how to keep your costs down during your trip.
What is the currency in India?
The official currency in India is the Indian Rupee, which is issued and overseen by the Reserve Bank of India. If you’re buying your travel money online you may also see the official code being shown - INR. In stores and restaurants, Indian Rupee prices are likely to use the currency symbol ₹.
Once you’re in India you’ll see costs of items shown in INR and you’ll need to start paying for things in local coins and notes which are often found in the following denominations:
banknotes - 1, 2, 5, 10, 20, 50, 100, 200, 500, 2000 INR and coins - 1, 2, 5, 10 INR; 50 paise.
Can you officially pay in NZD when you are in India?
You’re unlikely to be able to officially transact in NZD in India, which is why it’s time to start getting used to INR and learning more about the currency exchange rates so you’ll know what you’re spending on your trip.
This guide will walk through all you need to know, including US dollar/Indian Rupee rates and where best to get your travel money from.
| Indian Rupee | |
|---|---|
| Currency name | Indian Rupee |
| ISO code | INR |
| Symbol | ₹ |
| Subunit | Paisa |
| Central Bank | Reserve Bank of India |
| Best travel cards to take to India | Wise |
INR coins and banknotes
Here’s a full rundown of the INR coins and banknotes you’ll need to be familiar with when you’re in India.
| INR banknotes | INR coins |
|---|---|
| banknotes - 1, 2, 5, 10, 20, 50, 100, 200, 500, 2000 INR | coins - 1, 2, 5, 10 INR; 50 paise |
History of Indian Rupee currency
The Indian Rupee (INR) was first issued in the 16th century by Sher Shah Suri, based on a ratio of 40 copper pieces (paisa) per rupee. The British East India Company adopted the rupee in the 18th century, and it survived through British rule and into independent India, undergoing various reforms and demonetizations.
Is NZD accepted in India?
As we’ve seen, the official currency in India is INR. If you carry NZD with you on your trip, you’ll probably need to exchange it before you can spend.
Sometimes when you’re away on a trip abroad you’ll find that merchants will take payments in a selection of major foreign currencies. However, the chances are that where this is offered, you won’t get a good exchange rate for your NZD. Planning smart and convenient ways to spend in INR when you’re away is likely to mean you save on costs in the end.
Usually, having a few different ways to pay and get cash is the best option for travelers and tourists. That’s because you’ll have a back up plan in case one payment method isn’t accepted for any reason, and you can pick the method that’s best suited to the specific transaction. Having a multi-currency card from a provider like Wise, plus your normal bank debit card, and some local cash in INR should mean you’ve always got options. You can use your cash for small purchases and tipping, and make low cost payments and cash withdrawals with your multi-currency card, while keeping your bank card in reserve for emergencies.
Use a travel card on your next trip to India
Using a travel debit card in India is usually cheap, safe and convenient. A few providers in NZD offer multi-currency cards which come with a linked payment account that lets you convert, hold and spend in INR. That allows you to add a balance in NZD and switch over to INR to lock in the exchange rate and set your travel budget.
Once you have INR in your account there are no extra fees to make payments, and you’ll not have foreign transaction charges to worry about, either.
Here’s a quick overview of a couple of handy travel debit cards you may want to order and use in India.
Wise travel card
Order a Wise travel card online or in the Wise app, to hold and exchange 40+ currencies and manage your money from your phone. You’ll be able to spend conveniently in INR - and all currency exchange uses the mid-market rate with no markup.
Card holders get some free ATM withdrawals available every month, and there’s no annual or monthly fees to pay, and no minimum balance requirement.
| Wise pros | Wise cons |
|---|---|
✅ Currency exchange uses the mid-market rate ✅ No foreign transaction fees apply ✅ Free to hold and spend 40+ currencies ✅ Receive payments to your Wise account in a selection of global currencies ✅ No minimum balance or ongoing fees | ❌ Card order fee applies ❌ ATM fees apply once you’ve exhausted your free monthly withdrawals |
What is the currency exchange rate for NZ$ 1 NZD/INR?
It’s helpful to get to know the live NZD/INR rate so you can easily calculate how much things are costing you while you’re on your trip abroad. The rate you need to focus on is the mid market rate, which is the one banks and major currency services get when buying and selling currencies. This rate isn’t always passed on to customers. Instead you may find that the NZD/INR rate you get when exchanging travel cash includes a markup - an extra fee.
Find the NZD/INR mid-market rate from a currency conversion site or a website like this, so you can keep an eye on the market and compare the rates you’re offered as you travel against the mid-market rate easily. Right now, the mid-market rate for 1 NZD to INR is 0.54219.
Should I exchange NZD to INR before traveling to India?
Because India sees many tourists from New Zealand every year you might find you’re better off if you exchange your currency when you get to India rather than worrying about getting your cash sorted out before you leave.
Get familiar with the exchange rates offered locally to you, and online, so you can decide whether it’s worth switching some funds in advance of travel, using a card to pay while you’re away, or converting cash on arrival. Both in New Zealand and in India, steer clear of exchanging currency at the airport. A captive market means that NZD/INR rates are often worse in the airport than in city centers.
Tips for exchanging money in India
There’s a good network of ATMs across India, and card payments are also widely accepted. Always pay in NZD to avoid sneaky extra dynamic currency conversion costs and to make sure your money goes further.
Avoid using exchange providers at airports or hotels in India as they usually offer pretty poor exchange rates because they have a captive market and little competition nearby
Today’s mid market exchange rate for NZD/INR is 0.54219 - look for this or as close as possible to it when you exchange your travel money
Use a travel debit card like the Wise card while you’re in India for fast and cheap conversion between currencies and easy ways to manage your money from your phone
Best place to exchange currency in India
You can get your INR in India in a couple of ways.
You’ll be able to use a travel debit card from a provider like Wise to make convenient payments and cash withdrawals and to convert funds online.
Or if you prefer an offline solution you can carry some cash in NZD to exchange when you arrive. Currency exchange providers are often in airports and hotels, although the exchange shops in a city center are likely to be cheaper overall.
How to pay in India?
You’ll need to have INR to spend in India. However, generally having a few different payment methods is a good plan. That means that if a merchant won't accept one, you’ve got a back up. It’s also reassuring to know you have a different way to pay if you were unlucky enough to have a card or some travel cash stolen. Here are your key payment options in India.
1. Debit or credit card
Card payments can be helpful in shops, restaurants and hotels but there will be places where cash is also important. Order a travel card from a provider like Wise for cheap and fast transactions, including card payments and cash withdrawals as and when you need travel money in INR.
2. INR cash
Cash is widely used in India, so it’s worth having some with you at all times. You may want to exchange money to INR before you leave, but it’s also usually convenient to make ATM withdrawals locally once you arrive in India.
You’ll usually find you can use a card to make payments in India, but carrying some cash in INR is also reassuring. It’s often easier for tipping and making smaller purchases, plus you’ve got a nice backup if your card is ever out of action for some reason.
It’s a smart idea to have both a card and some cash in INR when you’re in India. Some merchants will prefer cash, but having a card for higher value payments and in busier more tourist places is also convenient. Consider using a travel card from a provider like Wise or Revolut alongside your cash for flexibility.
Paying for the trip in NZD
If you’re paying for things in India with a NZD bank card you might find a foreign transaction fee is added. This pushes up your costs when you spend in a foreign currency, and can be tricky to calculate.
Travel debit cards don’t always work this way. When you make purchases in India using the Wise card you can either choose to convert your account balance to INR in advance in the Wise app, or just leave your balance in NZD and let the card handle the transaction when you pay. You’ll always get the lowest available fee and there are no extra foreign transaction charges.
Conclusion - Currency in India
You won’t be able to pay in NZD when you visit India - so learning about the currency you need is essential. Whether you decide to use a travel debit card from a service like Wise , or stock up on INR in cash in advance, knowing the mid-market exchange rate can help you get the best available deal. Use this guide to learn all you need to know about the options, rates and fees for exchanging NZD to INR, and make your money go further while you’re away.
The official currency in India is INR. You can’t usually pay in NZD in India, so you’ll need to plan in advance to get your travel money sorted. Consider ordering a travel debit card from a service like Wise, for low cost conversions to INR and convenient spending and withdrawals - and remember that knowing the NZD to INR mid-market exchange rate is essential to check you’re getting a fair deal on currency exchange.
FAQ - Currency in India
What is the currency in India called?
The official currency in India is the Indian Rupee. You may also see the code INR and the currency symbol ₹.
What's the currency in New Delhi?
The official currency in New Delhi is the Indian Rupee. You’ll only be able to spend in INR while you’re there.
What is the old India currency?
Today the currency in India is the Indian Rupee. If you’re worried about currencies changing, why not get a travel debit card from a service like Wise which will automatically pick the currency needed in your destination when making a payment - with no penalties or inflated fees.
What is the best currency to take to India?
You’ll only be able to spend in INR while you’re in India. Carrying some money in cash and using a travel debit card from a service like Wise is usually the best way to spend while you’re away from home.