Planning a trip to India? As a Canadian traveler, managing your money wisely is key to enjoying a smooth and stress-free journey. This guide offers practical money tips for Canadians visiting India, covering everything from budgeting and safe cash handling to currency exchange and managing daily expenses with foreign currency. Get ready to travel smart and make the most of your adventure.
Key Takeaways
Plan to budget around $56 per day in India, though your spending money may vary depending on the season and your travel style.
Always carry cash in small denominations of Indian rupee and keep a backup source of funds for peace of mind.
Exchange money at banks or authorized exchange desks—steer clear of black market deals to avoid scams.
Use ATMs in urban areas for convenient ATM withdrawals, but be mindful of any fees and interest charges.
Let your bank know ahead of time about your travel plans to prevent any card blocks during international transactions.
Credit cards like MasterCard and Visa are widely accepted in major Indian cities.
Keep all your receipts from currency exchanges—they’ll come in handy when converting leftover rupees before you leave.
Avoid dynamic currency conversion by always opting to pay in the local currency, the Indian rupee.
Remember to declare if you’re carrying more than 25,000 INR when entering or leaving the country, as this is the maximum amount allowed without declaration.
Stick with reputable providers to get the best CAD to INR exchange rates and minimize fees by choosing the mid market rate whenever possible.
Budgeting for Your Trip to India
When planning your trip to India and its diverse destinations, it’s helpful to have a clear idea of your daily expenses in Indian rupee. On average, travelers spend about $56 a day, covering accommodation, transportation, food, activities, and other essentials. Keep in mind that prices fluctuate based on your travel style and the time of year, with the rainy season generally offering better deals and peak seasons tending to be pricier.
Accommodation options range widely—from budget-friendly hostels to luxurious hotels near popular tourist attractions. Visiting these attractions typically adds around 883 INR ($14) per day to your budget. Food and service costs can vary a lot, so it’s good to plan your spending money accordingly.
Having a realistic budget in place helps ensure your trip is enjoyable and stress-free.
Best Way to Exchange Money in India for Canadians
Getting the most bang for your buck when exchanging Canadian dollars to Indian rupee is essential. It’s a good idea to exchange a small amount of cash at the airport to cover immediate needs, but avoid large transactions there due to less favorable rates.
When you need to break larger bills, banks or bigger stores are your best bet—they can help you get smaller denominations without drawing too much attention.
Using Banks for Currency Exchange
Indian banks provide a safe and reliable way to exchange your money, often offering better rates than other places. Just remember to bring your ID and any required documents to make the process smooth.
Whether you’re exchanging a small amount or a larger sum of Canadian dollar or other currencies, banks are a trustworthy option. They can also help you break larger notes into smaller ones, which is handy for everyday spending.
Opening a bank account in India may be useful if you plan an extended stay or frequent visits, allowing easier management of funds and avoiding some fees.
Authorized Foreign Exchange Desks
You’ll find authorized exchange desks at airports, major cities, and large train stations. These desks offer a safe and legal way to exchange money, helping you avoid the risks of unauthorized changers. However, be aware that exchanging money at currency exchange desks at airports and hotels often incurs high fees and poor rates, so it’s best to limit transactions at these locations.
They’re especially convenient when you first arrive or need cash quickly in the city centre. Plus, their public locations make them easy to find.
Avoiding Black Market Exchanges
While the temptation might be there, avoid black market money exchanges. They’re illegal, risky, and you could end up with counterfeit bills or get into trouble with local authorities.
Stick to authorized banks and exchange providers to keep your money safe and get fair rates.
Using Credit Cards in India for Canadians
Credit cards offer a convenient way to manage expenses in India. Here’s what to know:
MasterCard and Visa are widely accepted.
Credit cards often provide better exchange rates and lower fees than cash.
Use your major international credit card for big purchases to benefit from these perks.
A no-foreign-transaction-fee credit card waives the typical 2.5% foreign transaction fee on purchases, making it a cost-effective option for international travel.
If your card is lost or stolen, prepaid travel cards can be replaced, giving you extra peace of mind.
Using ATMs and Debit Cards
ATMs are plentiful in India’s urban areas and are a popular way to get cash during your trip. Airport ATMs are reliable for your first withdrawal, with typical limits between INR 10,000 and 20,000 per transaction for foreign cards. To keep your money safe, store cash securely in a money belt or similar. Withdraw larger amounts of cash less frequently from ATMs to minimize transaction fees.
Keep in mind that ATM fees can range from INR 150 to 300 per withdrawal, plus possible foreign transaction fees and interest charges. To make the most of ATMs:
Inform your bank before traveling so your card won’t be unexpectedly blocked.
Use ATMs strategically to manage your cash flow and minimize fees.
Avoid carrying large amounts of cash by withdrawing what you need when you need it.
Ensure your debit card PIN is permitted for use in India; many ATMs accept only 4-digit PINs, so check with your bank in advance.
Also, make sure your phone is set up to notify your bank of your travel destinations to avoid any card issues.
Managing Spending Money on a Daily Basis
Keeping track of your daily spending helps you stay on budget. Accommodation varies widely:
Mid-range lodging averages around $40 per day.
Budget options can be as low as 300-800 INR per night.
Luxury hotels in big cities range from 7,000 to 25,000 INR per night.
Choosing the right accommodation helps you plan your overall budget and decide where to visit.
During peak seasons, prices rise, so traveling off-peak can save you money. Hostels offer affordable, comfortable stays. Planning ahead ensures a great experience without overspending.
Transportation Costs
Getting around India is affordable. Daily transport costs average about $13. Public transport in cities like Delhi starts at around 10 INR per ride. Taxis charge a base fare plus per-kilometer rates, usually starting at 25-30 INR.
Ride-sharing apps like Ola offer fair prices without the hassle of bargaining, making short trips easy and convenient. Public transit and ride-hailing apps help you navigate cities efficiently and affordably.
Saving Money While Traveling in India
Traveling on a budget is definitely doable in India with some smart choices. Public transportation is the cheapest way to get around, with train fares ranging from $4 to $20 USD. Renting a scooter or motorbike costs between $5 and $15 USD daily and gives you flexibility.
Here are some tips to save:
Take overnight trains to save on accommodation.
Stay in hostels for a good mix of price and comfort.
Don’t hesitate to ask for discounts, especially off-season.
Bargaining is common in markets but always be polite.
Refilling your water bottle with purified hotel water helps cut costs and reduce plastic waste.
Understanding Tipping Etiquette
Tipping in India usually falls between 10-15% of the bill. If a service fee is already included, tipping is optional.
In hotels, it’s customary to tip porters about 30 rupees per bag and housekeeping around 50 rupees daily. At restaurants, adjust your tip if a service charge is added.
For taxi drivers, rounding up the fare is common if you’re happy with the ride. Tour guides and drivers typically receive tips between 100-300 rupees based on service quality.
Getting the Best Exchange Rate for INR
To get the best value when exchanging Canadian dollars:
Keep an eye on official exchange rates using the Bank of Canada’s online currency converter and other reliable data sources.
Set alerts to catch favorable CAD to INR rates.
Be wary of scams and stick to reputable providers.
Avoid unauthorized money changers—they’re illegal and risky. Always choose to pay in local currency to avoid high conversion fees and dynamic currency conversion.
Knowing the value of your Canadian dollars in rupees makes your trip more enjoyable and budget-friendly.
Preparing for Departure
When it’s time to leave India, manage leftover currency smartly. Keep your exchange receipts—they’ll help you convert leftover rupees back home. Travelers should save encashment certificates from currency exchanges to ensure a smooth process when converting rupees to their home currency.
If you’re carrying cash or foreign currency valued over USD 5,000 or its equivalent, make sure to declare it at the airport to avoid problems.
Some airports may charge a departure tax or service fee, so have some local currency ready.
Planning ahead helps ensure a smooth trip back home.
Sending Money from Canada to India
If you need to send money from Canada to India, consider using secure and cost-effective remittance services. Many providers offer competitive exchange rates and low transfer fees, making it easy to support friends or family back home.
Look for services that provide fast delivery and transparent details about fees and exchange rates. Using reputable platforms ensures your money arrives safely and quickly.
Best Cards for Canadians in India
For Canadians traveling to India, choosing the right cards can save money and hassle:
Credit cards with no foreign transaction fees help avoid extra costs on purchases.
Prepaid travel cards allow you to load Canadian dollars and convert them to Indian rupees at favorable mid market rates.
Debit cards linked to international networks are convenient for ATM withdrawals but check for fees.
Inform your bank about your travel plans to prevent card blocks and consider carrying multiple cards for backup.
Summary
Traveling to India as a Canadian is a rewarding experience when you plan your finances carefully. By budgeting smartly, handling cash securely, using authorized exchange methods, and managing daily expenses wisely, you can enjoy all that India has to offer without money worries. Stay informed and prepared for a fantastic journey full of vibrant culture, delicious food, and unforgettable sights in this amazing part of the world.
Contact Mann Travel to find the best deals on Canada to India flights and begin your journey already.
Frequently Asked Questions
Is it better to exchange CAD in Canada or India?
Often, exchanging CAD before you leave Canada can get you better rates and lower fees, especially if you use online money transfer services. However, it’s a good idea to compare rates in both places to find the best deal.
How far does $20 go in India?
Thanks to favorable exchange rates, $20 can cover meals, transportation, or even a short stay, letting you enjoy local culture without overspending.
What is the average daily expenditure for tourists in India?
Tourists typically spend about $56 a day, covering accommodation, transport, food, activities, and other expenses.
How can I carry cash safely in India?
Use small denominations and spread your cash across a money belt or different pockets. Having a backup like an international travel debit card adds extra security.
Where is the best place to exchange money in India?
Banks and authorized exchange desks offer secure transactions and competitive rates, making them the safest choices for exchanging money in India.
