Bangalore is one of the most charming cities in South India. A distinctly modern city, it is known as the IT hub or Silicon Valley of the country with most top IT companies based here. Being an IT hub, many IT professionals travel abroad from Bangalore. So it is essentially that they know the different means to acquire foreign exchange in Bangalore for their travels abroad.
When it comes to Forex rate, it will rely predominantly on the month of the year in which you are planning your travel or buy forex in Bangalore. Some people travel abroad a lot and need foreign currency very frequently, & these travelers have to pay more than a fair price of foreign currency in the middle of busy tourist season. People who buy foreign currency from their banks & other offline companies usually pay a commission of 3-5% over the inter-bank exchange rates while buying USD. This premium can be as high as 10-12% in case of less popular foreign currencies.
So, a smarter way to buy Forex in Bangalore is to look for an online money changer who is reliable, offers much better rates than banks & traditional foreign exchange agents. The difference between exchange rates of offline & online modes can be huge because sometimes a money changer based in local markets will sell foreign currency with a margin as high as 3-5%!
Many online foreign exchange companies like BuyForexOnline even provide you with a free home delivery option when you book your forex online. Get live foreign exchange rates rather than daily fixed rates, leading to big saving. Remember little margin in exchange rate can go a long way!