Currency in Goa (India)

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Many tourists planning their visit to a resort town like Goa are wondering if it is worth taking dollars or euros with them? Can I pay in rubles? What currency is in circulation in Goa? The answers to most questions can be found in the article.

Local currency in Goa

Goa is one of the southern states of the Republic of India. Therefore, in Goa, the Indian rupee is the currency. According to the international standard, it has the INR code.

As of February 2019, banknotes of the following denominations are in circulation: 5, 10, 20, 50, 100, 200, 500 and 2,000 rupees.

Reserve Bank of India periodically updates the appearance of banknotes. Therefore, before the trip, we recommend that you check how the local banknotes look at the time of travel.

Russian money exchange

The exchange rate of Goa against the ruble on 2019-04-02 by the Central Bank of the Russian Federation is fixed at 1:1, 08. That is, for 1 domestic ruble, you can theoretically get 1.08 Indian rupees. The actual purchase rate of the Russian currency will be lower. Over the past few years, domestic tourists have been simplifying calculations and reducing them to a ratio of 1:1.

Pay with our currency, for example, for a hotel will not work. But to exchange it or buy jewelry is quite.

Dollars in India

The situation is completely different with the US dollar, which is happily accepted throughout India and Goa. The US currency is very popular and in demand. On February 4, 2019, the dollar to rupee exchange rate was fixed as 1:71.12, that is, for 1 USD you can get 71.12 INR.

Growth or fall of the dollar has a significant impact on the Indian rupee. Back in the summer of 2018, for $100 you could get 6,400-6,500 rupees.

Euro to Goa

Similarly, the situation is with the euro. This currency in Goa and India is also quite popular, although somewhat less than the dollar.

As of February 4, 2019, the exchange rate was set at 81.97. That is, for 1 EUR you can get 81.97 INR. The currency of the European Union is recommended to be exchanged. It is somewhat more difficult for her to pay.

What currency should I take to India and Goa?

The most profitable classic American dollars. There are several reasons for this:

• The dollar exchange rate against both the Russian ruble and the Indian rupee is growing.
• Currency is accepted by everyone and everywhere: taxi drivers, shopkeepers, exchange offices, jewelry stores, hotels, sheki and restaurants, guides. Have banknotes of several denominations. Bring with you new banknotes, in good condition and the latest series of issues.
• You can also take the euro. Although they are unlikely to be accepted in the same hotel, they can also be exchanged for local currencynot difficult.
• If you traveled to neighboring countries before traveling to India, the exchange offices will also accept the currency of these states. For example, Nepalese, Indonesian or Thai.

How much money to take with you?

The currency in Goa for tourists is the quality of their vacation. Decide what you want to buy, where to go and what to try. India is a country for people of all incomes. If you intend to eat in coastal cafes, the average check for lunch or dinner will be from 200 to 700 rupees (from 180 to 650 rubles), depending on your appetites and ordered dishes. On the coast, prices are slightly higher than in the settlements themselves.

Guides and guides are ready to offer you trips around the state with sightseeing from 50 to 150 dollars. Both US and local currency are accepted as payment.

What prices can you meet:

• masala tea - from 10 rupees (9 rubles) in chaiwala to 60 rupees (55 rubles) in shek;
• tomatoes - 20 rupees (18 rubles) per kg;
• pineapples - from 30 to 70 rupees (28-65 rubles) per piece;
• bananas - 60 rupees (55 rubles) for 12 pieces;
• chicken - 90-100 rupees (83-92 rubles) per kg;
• pasta - 80-120 rupees (73-111 rubles) per kg;
• rice - 90-160 rupees (83-148 rubles) per kg;
• milk - 40 rupees (37 rubles).

As you can see, the prices are quite low, the rest are kept at the level slightly cheaper than Russian ones.

Exchange offices

The state lives in the tourism business, soYou will not have problems with currency exchange. Another issue is to get a favorable exchange rate. So the first piece of advice is bargain. Even when exchanging currency in Goa. The exception is banks and official points of sale and purchase.

A feature of the process is the fact that the rate may depend on the denomination of banknotes and their condition. New, crisp hundred-dollar bills will be exchanged at the maximum rate. If the banknotes were already in circulation or the denomination is less, the rate will be offered at a lower rate.

First of all, tourists try to change currency at the airport. Forget it and hide your wallet deeper. This is the place where you will be offered the lowest rate. Don't panic at the thought of having to pay the taxi driver. In India, you can pay after you have reached your destination. You can change currency on the way or at the hotel.

The most favorable rate will be offered to you in jewelry stores. Indians love to chat, so 10-20 minutes of casual conversations will give you a chance to win a few hundred rupees with an exchange of $100 or more.

You can also check the course in travel agencies. Ask at the front desk or driver and you will be happily taken to the nearest office in the hope that you will book an excursion or tour throughout India.

When exchanging, check if there is a commission for the operation. Ignore the inscriptions about its absence. During the exchange process, they may explain to you that they do not take a commission only in some cases, for example, when exchanging rupees for dollars.

Using bank cards

In Goa you can use andplastic card to receive Goan currency at ATMs. However, there are certain nuances:

• settlements in the state are small, so sometimes you have to look for an ATM;
• periodically loses connection with the bank or runs out of banknotes;
• Shops do not accept cards everywhere.

Don't be surprised by the presence of an armed guard next to the ATM. For India, this is normal. But you can turn to them for help if you can't figure out the menu interface.

Indian ATMs are distinguished by the main design feature - the device does not capture the card. Even with the correct selection of menu items, the transaction will be canceled. The reason is the presence of a card in an ATM. To withdraw money, follow the following sequence: insert the card, wait 3-5 seconds, remove it, select the withdrawal point, indicate the amount and enter the pin code at the final stage.

For cash, you can also contact travel agents. Almost all have such a service as cash advance: money is debited from your card and cash is issued. However, be vigilant and careful, contact only trusted companies. Get recommendations from compatriots, of whom there are a lot in Goa.

With a minimum commission, you can withdraw money from ATMs of the State Bank of India (SBI) and the Bank of India (BOI). When receiving cash in their ATM, a commission may be charged by the bank that issued the card in Russia. In devices of other creditorganizations in India, the minimum commission is 200-300 rupees.

Advice from the seasoned

Three years ago, an unprecedented precedent happened in India: one fine morning, millions of people who prefer to keep savings at home in cash suffered huge losses. On the evening of the previous day, the country's government announced the withdrawal of banknotes in denominations of 500 and 1,000 INR from circulation. The exchange could be made within a few weeks and with a limit on the amount. In order not to be one day in the queue for an exchange among the Indians: do not exchange all the cash and do not empty the card. Shoot as needed.

In addition, follow these tips:

• If you plan to take plastic cards with you, use those issued by different banks. Keep them in different places for more security. In case of loss of the card, try to transfer funds from one to another as quickly as possible, only after that block the card by calling the bank operator.
• Having multiple cards will also allow you to bypass the daily cash withdrawal limit. Many ATMs have a Rs 10,000 limit. This can come in handy if you are planning a major purchase or spending.
• After making the exchange, inspect the received banknotes. Do not take banknotes that are shabby, sealed, or have inscriptions with a pen or pencil. In other places, you may be refused to take them. Or bargain, agreeing to accept such bills, you can get a very good rate.
• Change a few hundred dollar bills. Small denomination banknotes can be settled with sellers as long asnot orienting in the situation.

And communicate with compatriots. If you have any difficulties with the exchange or withdrawal of cash, you can contact them. It is rare that someone refuses to accept several thousand rubles on a Sberbank card in exchange for rupees.