How to Exchange Currency at Indian Airports

The advantages of exchanging currency at Indian airports are as follows:

1. You can get currency exchange immediately at airports without any kind of hassle or waiting.
2. Most counters operate 24/7, which helps passengers to exchange money regardless of their arrival or departure time.
3. Airports are a reliable option to exchange currency at the last moment, which eliminates the need to search for alternatives.

Disadvantages of Exchanging Currency at Indian Airports

At Indian airports, currency exchange can cost you more due to unfavorable rates and extra fees. Its cons are as follows:

1. At Airports you get less value for money because airport counters offer unfavorable exchange rates as compared to banks, ATMs, or online platforms.
2. Travellers will only have limited options to compare and choose the best rates because there are very few currency exchange providers.
3. The rates often include high service charges or hidden fees to cover high airport operating costs. It reduces the amount of currency you receive.
4. Some counters require you to exchange a minimum amount, which may result in converting more money than you actually need.

Why Airport Currency Exchange Rates Are Often Higher?

Airport currency exchange rates are usually higher than regular market rates due to several global and economic factors that affect a country's currency value. These are as follows:

Inflation: When there is inflation, the buying power will be lower, which makes its currency weaker as compared to other countries' money. Therefore, if you change currency at the airport during that time then you get less foreign money in return

Stable governance: If the government is stable, then more people's investments are made. More investments mean more demand for that country’s currency. On the other hand, if the government is unstable, it weakens the currency, which affect its exchange rates at the airport.

Market recession: When the economy of the country slows down, people spend less. Due to which currency’s value goes down, and this leads to poorer exchange rates, especially at airports.

Central Bank Influence on Currency: Sometimes the government tries to control its currency’s value by buying or selling it in the market. These actions can cause a change in the value of a currency. These interventions make the rates unpredictable at airports, as these are tied to market conditions.