HDFC Bank Forex Rates 19-12-2024

HDFC Bank, a renowned name in the banking industry, offers a comprehensive suite of services including foreign exchange facilities. Whether you’re looking to check HDFC Forex rates, avail remittance services, or exchange currency, HDFC Bank has you covered. With HDFC Forex rates today accessible through various channels, including online platforms and mobile apps, customers can stay updated on the latest exchange rates. From HDFC Forex card rates to remittance exchange rates, the bank ensures transparency and reliability in all its offerings. Whether it’s converting currency for a leisure trip or executing a business transaction, HDFC Bank’s competitive exchange rates and efficient services make it a preferred choice for customers.

Whether you’re monitoring HDFC Forex rates inward remittance or outward remittance rates, HDFC Bank provides a seamless experience, ensuring that your international transactions are executed smoothly and cost-effectively. With HDFC Bank’s commitment to excellence, customers can trust in the accuracy and efficiency of its Forex services, making it a reliable partner for all their foreign exchange needs.

HDFC Bank Forex Rates
In the realm of international finance, HDFC Bank stands out as a leading institution, offering a wide array of services including foreign exchange facilities. Whether you’re a seasoned trader or a novice traveler, understanding HDFC Forex rates is paramount for making informed financial decisions. Let’s delve into the world of HDFC Forex rates and explore the intricacies of currency exchange with HDFC Bank.

HDFC Forex Rates Today:

Keeping track of HDFC Forex rates today is crucial for anyone involved in global transactions. HDFC Bank provides real-time updates on its website and mobile app, ensuring that customers have access to the latest exchange rates. Whether you’re planning a business venture abroad or a leisurely vacation, knowing the current HDFC Forex rates empowers you to make timely and cost-effective decisions.

HDFC Bank Forex Rates:

HDFC Bank offers competitive Forex rates across a spectrum of currencies. From USD to EUR, GBP to CAD, HDFC Bank covers a wide range of currency pairs, catering to diverse customer needs. Whether you’re looking to buy or sell foreign currency, HDFC Bank’s transparent and reliable Forex rates ensure a seamless experience for customers.

HDFC Bank Remittance Exchange Rate Today:

For those sending money overseas, HDFC Bank’s remittance exchange rates play a crucial role. The remittance exchange rate today reflects the value of your money in the recipient’s currency. HDFC Bank strives to offer competitive remittance exchange rates, coupled with efficient transfer services, ensuring that your hard-earned money reaches its destination swiftly and securely.

HDFC Forex Card Rates:

HDFC Forex card rates are tailored to meet the diverse needs of travelers. Whether you’re embarking on a solo backpacking adventure or a family vacation, HDFC Forex card rates offer convenience, security, and flexibility. With features like multi-currency functionality and contactless payments, HDFC Forex card rates make overseas travel hassle-free

HDFC Currency Exchange Rate:

Understanding HDFC currency exchange rates is essential for individuals and businesses engaged in international trade. HDFC Bank offers competitive currency exchange rates, coupled with expert guidance from seasoned professionals. Whether you’re importing goods from abroad or expanding your business overseas, HDFC currency exchange rates ensure cost-effective transactions.

How To Calculate GST on foreign Currency Conversion – Calculate GST on Inward Remittance

Charges mentioned above are charges levied by HDFC Bank only and does not include any charges that may be levied by originating/correspondent banks, excluding remittances sent under Full value facility.

Cheques drawn in one currency payable in another country where currency is different will take a longer period to realize and would attract charges of various correspondent banks as per their own tariff schedule over which we do not have any control. For e.g. A cheque drawn in USD payable on a bank in Singapore or Cheque drawn in GBP payable on a bank in South Africa or Cheque drawn in USD payable in Canada.

Goods and Services Tax: All foreign exchange transactions are subject to levy of Goods and Services Tax (GST), which is payable in addition to the charges mentioned above. Presently, the applicable rate of GST is as under:

On amount of commission, fees and charges (including Full Value charges) paid – @ 18% of amount of the commission/fees/charges.

On amount of foreign currency exchanged as per below slab:

Tax Collected at Source: The Finance Act, 2020 has introduced new Income tax provisions on Foreign Exchange transactions under Liberalised Remittance Scheme (LRS), effective October 1, 2020.

As per the new provisions:

Tax Collected at Source (TCS) @ 5% shall be applicable on all forex drawls under LRS exceeding INR 7 Lakhs in a financial year.
TCS shall be applicable on all LRS transactions including forex drawl through FCY Cash Sell, Forex Cards issuance / load / reload, FCY DD issuance and Outward Remittances.
For transfers from Resident Individual Account to NRO Account towards Gift / Loan, TCS will not be applicable and the amount transferred will not be subsumed under the aggregate threshold limit of INR 7 Lakhs per financial year as mentioned above.
For remittances towards pursuing overseas education, TCS @ 0.5% shall be applicable, if the amount remitted is obtained through an educational loan from a financial institution as specified u/s 80E of the Income-tax Act, 1961.
If the amount remitted towards overseas education is out of own funds or loan from any other entity (i.e. not from education loan obtained from a financial institution explained above), TCS @ 5% shall be applicable on aggregate remittance exceeding INR 7 lakhs per FY.

Forex drawls towards Overseas tour packages shall attract TCS @ 5% of the total remitted amount and the amount remitted will be subsumed under the threshold limit of INR 7 Lakhs mentioned above. The TCS rates mentioned above are to be increased by applicable surcharge as well as Health and Education Cess in case the remitter is not a resident as per the Income-Tax Act, 1961.

Income taxable in India Rate of TCS Surcharge Health and education cess Effective rate of TCS

Below Rs. 50 lakh 5% 0% 4% 5.20%

Rs. 50 lakh to Rs. 1 crore 5% 10% 4% 5.72%

Above Rs. 1 crore to Rs. 2 crore 5% 15% 4% 5.98%

Above Rs. 2 crore to Rs. 5 crore 5% 25% 4% 6.50%

Above Rs. 5 crore 5% 37% 4% 7.12%

The bank does not charge any fees for its Foreign Currency Cash services. Only GST charges will be levied.

All foreign exchange transactions are subject to levy of Goods and Services Tax (GST), which is payable in addition to the charges mentioned above.

Presently, the applicable rate of GST are as under :

On amount of commission, fees and charges paid – @ 18% of amount of the commission/fees/charges.

Goods and Services Tax: All foreign exchange transactions are subject to the levy of Goods and Services Tax (GST), which is payable in addition to the charges mentioned above. Presently, the applicable rate of GST is as under:

On the amount of commission, fees, and charges (including Full Value charges) paid – @ 18% of the amount of the commission/fees/charges.
On the amount of foreign currency exchanged as per the below slab:

Currency Type	Currency (In Rs.)	Cash Buying	Cash Selling	Bills Buying (Trade)	Bills Selling (Trade)	T.T. Buying (Inw Rem)	T.T. Selling (O/w Rem)	Forex Cards (Cash out) & TC Purchase	Forex Cards (Load / ReLoad) & TC Sale	DD Issuance
U.A.E. Dirham	AED	21.31	25.17	22.3	23.99	22.43	23.87	22.33	23.96	–
Australian Dollar	AUD	50.64	56.85	50.7	55.2	50.99	54.9	50.83	55.07	55.2
Canadian Dollar	CAD	56.36	62.05	56.88	60.94	57.21	60.61	57.03	60.79	60.94
Swiss Francs	CHF	89.37	99.43	91.45	97.35	91.97	96.83	91.68	97.12	–
Chinese Yuan	CNY	–	–	–	–	–	–	–	–	–
Danish Krone	DKK	–	–	11.35	12.3	11.42	12.24	11.38	12.27	–
Euro	EUR	85.74	92.51	85.86	90.63	86.34	90.14	86.08	90.41	90.63
Great Britain Pound	GBP	104.07	111.03	103.45	110.58	104.04	109.99	103.72	110.31	110.58
Hong Kong Dollar	HKD	10.07	11.92	10.54	11.34	10.6	11.28	10.57	11.31	11.34
Japanese Yen	JPY	0.5145	0.5806	0.523	0.5721	0.526	0.5691	0.5244	0.5707	0.5721
Korean Won	KRW	–	–	0.0556	0.0617	0.0559	0.0614	0.0556	0.0616	–
Malaysian Ringgit	MYR	–	–	–	–	–	–	18.03	–	–
Norwegian Krone	NOK	–	–	7.08	7.89	7.12	7.85	7.1	7.88	–
New Zealand Dollar	NZD	43.85	52.32	45.56	50.13	45.83	49.87	45.68	50.01	50.13
Omani Rial	OMR	201.5	238.42	212.43	229.25	213.64	228.03	212.98	228.7	–
Saudi Riyal	SAR	20.83	24.43	21.8	23.46	21.92	23.33	21.85	23.4	–
Swedish Kroner	SEK	–	–	7.25	8.06	7.29	8.02	7.27	8.04	–
Singapore Dollar	SGD	58.11	66.76	60.95	63.92	61.29	63.57	61.1	63.76	63.92
Thai Baht	THB	2.24	2.71	2.35	2.57	2.37	2.55	2.36	2.56	–
United States Dollar	USD	82.79	87.25	83.03	87.01	83.5	86.55	83.24	86.8	87.01
South African Rand	ZAR	4.22	5.17	4.42	4.88	4.45	4.85	4.43	4.87	–
Lankan Rupee	LKR	–	–	–	–	–	–	–	–	–
Turkish Lira	TRY	–	–	–	–	–	–	2.23	–	–
Bahraini Dinar	BHD	–	–	217.14	233.7	218.38	232.46	217.48	233.36	–
Kuwaiti Dinar	KWD	–	–	265.32	286.49	266.83	284.97	265.73	286.07	–
Qatari Riyal	QAR	–	–	22.39	24.26	22.52	24.13	22.42	24.22	–
Russian Ruble	RUB	–	–	–	–	–	–	–	–

Amount of Currency Exchanged (ACE)	GST rates	Minimum GST	Maximum GST
Up to Rs. 1 lakh	0.18% of ACE	Rs. 45	Rs. 180
Between Rs. 1 lakh and up to Rs. 10 lakh	INR 180 + 0.09% of ACE	Rs. 180	Rs. 990
Above Rs. 10 lakh	INR 990 + 0.018% of ACE	Rs. 990	Rs. 10,800

For More information visit: official HDFC Site