India’s currency is the rupee (Rs). 1 Rs = 100 paise. The money comes in the form of paper notes, 10, 20, 50, 100, 500 and 1000 Rs. Coins start at 10, 20, 25 and 50 paise and also come in 1, 2 and 5 Rs. You should be careful not to except torn notes as most people will not take them from you. Don’t offer torn notes to beggars as they cannot use them either and its considered as an insult. Also you should try and hang on to your small change as big notes can be hard to break and often vendors will not have small change. You should convert your currency on arrival in India as it’s illegal to carry Indian rupees into the country. English pounds, the euro and US dollars are the easiest to exchange. If you enter the country with more than $US 10,00 you need to declare it by filling out a currency declaration form.
ATMS can be found in most towns and all big cities, most of them operate 24 hours and accept MAESTRO and CIRRUS cards. The Standard Chartered Bank and The Bank of Baroda will give you a cash advance in Rupees on master and visa cards, of course they will charge you a fee. Traveler’s checks can be a bit tricky to exchange but they are a safe form of currency and can be used to purchase train tickets.
Exchange rate( current may 2007)
Pound 1 = 80Rs
US$ 1 = 46Rs
AUS$1 = 36Rs.
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