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Currency
The rupee (Rs ) is divided into 100 paise (p). There are coins of five, 10,20, 25 and 50 paise, and Rs 1, 2 and 5, and Rs 10, 20, 50, 100 and 500 notes. In 1996, the Reserve Bank of India decided to stop printing Rs 1, 2 and 5 notes. There are plans to start printing a Rs 1000 note.
You are not allowed to bring Indian currency into or out of the country. You are allowed to bring in unlimited amounts of foreign currency or travellers cheques, but you are supposed to declare anything over US$1000 on arrival.
One of the most annoying things about India is that no one ever seems to have any change, and you'll find on numerous occasions that you'll be left waiting for five minutes while a shopkeeper hawks your Rs 100 note around other shops to secure change.
When changing money for the first time pay extra attention to the bills you are getting.. don't accept any ripped ones (staple holes are OK). Also Rs 10 can look very similar to Rs 50. Take your time and check each note even if the wad appears to have been stapled together.
Travellers Cheques
All major brands are accepted in India, with American Express and Thomas Cook being the most widely traded. Pounds sterling and US$ are the safest bet; Yen, DM and A$ can be changed in main cities, but not out of the way places. Not all places take all brands - which means it pays to carry more than one flavour. Charges for changing travellers cheques vary from place to place and bank to bank.
ATMs
Mumbai, Calcutta, Bangalore, Chennai and Delhi, plus few (but growing) number of smaller centres have ATMs. Any card with PLUS or CIRRUS symbol is accepted at the following ATMs: Citibank, Hong Kong & Shanghai Bank, ANZ Grindleys Bank and Standard Chartered Bank.
Credit Cards
Credit Cards are accepted in most tourist centres, but don't expect to be able to use a card I budget hotels and restaurants. Master Card and Visa are the most widely accepted cards, and it might pay to bring both with you. You won't be able to use a credit card on the Andaman Islands. Cash advances on credit cards can be made at Thomas Cook. Bank of Baroda or the Central Bank of India at the Ashok Hotel in Delhi. (It is possible to get US$ from credit cards, debit cards, travellers cheques or money transfers.) Citibank account holders can access their accounts directly with their Verteller card and a chequebook. American Express will give a rupee advance on an American Express card
International Transfers
It's best not to run out of money in India, but if you do, you can have money transferred in no time at all via the Thomas Cook's Moneygram service (charges are relatively high as it's only considered an emergency service), or Western Union (via Sita Travels (011-331 1122, F- 12 Connaught Place, Delhi, or DHL). If you are transferring sums of less than US$1000, Western Union is cheaper than Thomas Cook. Bring your passport when you come to pick up your money.
Black Market
The Rupee is a fully convertible currency; that is , the rate is set by the market not the government. For this reasons there's not much of a black market, although you can get a couple of rupees more for your dollars or pounds cash. In the major tourist centres you will receive constant offers to change money. There's little risk involved although it is officially illegal.
Moneychangers
Moneychangers are everywhere and open all hours. Their main advantage is their convenience. Of course a caveat applies: always check the bank rates first, and check carefully the money you are given. Never accept very worn or dirty notes.
Security
The safest place for your money and you're passport is next to your skin, either in a money belt around your waist or in a pouch under your shirt or T-shirt. Never, ever carry these things in your luggage. You are also asking for trouble if you walk around with your valuables in a shoulder bag. Bum bags have become quite popular in recent times but be aware that this is a virtually advertising the fact to all and sundry that you have something of value on your person; this could make you a target for mugging. Never leave your valuable documents and travellers cheques in your hotel room. If the hotel is a reputable one, you should be able to use the hotel safe. It is wise to peel off few hundred dollars and keep them stashed away separately from your main horde, just in case.
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