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Do people in India want US dollars?

Do people in India want US dollars?

Old Mar 19, 17, 9:43 pm
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Do people in India want US dollars?

Do people in India want US dollars? Are there limitations in what they can exchange?

I have no intention of trading with strangers but if a business colleague wants dollars, I can exchange it with him. However, I don't want to insult him by asking. On the other hand, my schedule is tight. Arrive late at night and he comes to pick me up at the hotel first thing in the morning. If he exchanges money with me, it is easier.
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Old Mar 20, 17, 1:24 am
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After decades of very tight currency controls there is no culture of hoarding greenbacks in India. So unless your colleague travels to the US (or other US$ using countries) on a regular basis and needs the cash there, you are going to get a rather puzzled response.

you would be better off taking money out of an atm. The atms at the airport are usually emptied out by arriving visitors, so an atm in town would be a better option,
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Old Mar 20, 17, 3:43 am
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Originally Posted by Toshbaf View Post
Do people in India want US dollars? Are there limitations in what they can exchange?

I have no intention of trading with strangers but if a business colleague wants dollars, I can exchange it with him. However, I don't want to insult him by asking. On the other hand, my schedule is tight. Arrive late at night and he comes to pick me up at the hotel first thing in the morning. If he exchanges money with me, it is easier.
why not inform him in advance & ask him if he or anyone else he knows needs usd....if he does then exchange with him....if he doesn't then you can always exchange at an official money changer either at the airport or in town....
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Old Mar 20, 17, 4:10 am
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Originally Posted by Toshbaf View Post
Do people in India want US dollars? Are there limitations in what they can exchange?

I have no intention of trading with strangers but if a business colleague wants dollars, I can exchange it with him. However, I don't want to insult him by asking. On the other hand, my schedule is tight. Arrive late at night and he comes to pick me up at the hotel first thing in the morning. If he exchanges money with me, it is easier.
There are some people in India who do prefer to get US Dollars for their Indian rupees, but whether or not it's in compliance with Indian rules varies. Indians with relatives in or trips to the US are in this category, but as ATM use abroad has become increasingly common even for Indians residing only in India, the demand for this kind of exchange is just not there like it used to be.
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Old Mar 21, 17, 7:34 pm
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If you do exchange US$ for India Rupees (INR) unofficially and have excess left before your return, you may have trouble exchanging back to US$ as most, if not all, exchange counters require proof of your original exchange from US$ to INR
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