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USD to INR — compare your quote with the mid-market rate

US Dollar → Indian Rupee

USD → INR is one of the world's biggest remittance corridors. Online specialists clear 0.5% over the mid; high-street bank wires often run 2–3%.

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Recipient gets at the mid-market rate
95,860.00INR
For 1,000 USD · 1 USD = 95.86 INR
Enter the rate you were quoted above to see the gap from the mid-market rate.
Spot mid source: fallback · Indicative only

About the USD/INR pair

This page shows today’s wholesale USD/INR mid-market rate beside the rate a bank, broker, or kiosk has quoted you. The result is the gap between the two, as a percentage and an amount, in four tiers: under 0.3%, 0.3–1%, 1–3% and over 3% of the amount. The mid-market rate is the rate banks trade at, not a rate you can transact at directly — providers add their margin on top, and that margin is the gap RateCheck shows.

Who sends money on this route

Indian professionals in the United States send money home for parents, siblings and household expenses, and for property purchases and deposits in cities such as Bengaluru, Hyderabad and Pune.

US companies pay Indian IT services firms, contractors and freelancers in rupees, and families in the US fund weddings, medical costs and school fees in India.

What moves USD/INR

The Federal Reserve and the Reserve Bank of India set the policy rates. The rupee is a managed float: the RBI intervenes in the market to smooth sharp moves, so the pair tends to drift rather than jump.

US jobs and inflation figures move the dollar leg. For the rupee, RBI decisions, Indian consumer price inflation and the oil price matter most, since India imports most of its crude and pays in dollars.

The rupee is not freely traded offshore, so conversion normally happens in India or through a provider that delivers rupees.

How to read a quote

USD/INR is quoted as rupees per dollar. A customer rate below the mid-market rate delivers fewer rupees per dollar, and that difference is the provider's margin.

Because the figure is large, a small-looking difference matters: a gap of one rupee per dollar is more than one per cent of the amount sent. Banks commonly build a few per cent into the rate on international transfers; specialist providers are often under one per cent.

Common questions

How far is my USD/INR quote from the mid-market rate?+
Compare the rate you've been quoted with the live mid-market USD/INR rate — the wholesale rate banks trade at. RateCheck shows the gap as a percentage and an amount, in four tiers: under 0.3%, 0.3–1%, 1–3% and over 3% of the amount.
How much do banks and brokers charge to convert US dollar to Indian rupee?+
Retail bank margins on international transfers are commonly a few per cent; specialist providers are often under one per cent. The margin is built into the exchange rate, usually on top of any fixed transfer fee, and is rarely shown separately. RateCheck shows it as the gap between your quote and the mid-market USD/INR rate.
Is the mid-market USD/INR rate the rate I'll actually get?+
No. The mid-market (interbank) rate is the wholesale reference; providers add their margin on top. It's the rate the gap is measured from, not a rate you can transact at directly.
Why can I not send rupees from a US account directly?+
The rupee is only partly convertible, and rupee transfers are settled inside India. A provider takes dollars in the US and delivers rupees through an Indian bank or its own local partner. The exchange rate is applied at that point.
Does the receiving bank in India deduct anything?+
Rupee credits to Indian accounts are usually delivered in full when the conversion has already happened. A transfer arriving in dollars is converted by the Indian bank at its own rate, which is generally less transparent.
Does the RBI fix the USD/INR rate?+
No. The rate is set in the market, but the RBI intervenes to reduce volatility in either direction. That management makes the pair steadier than many emerging-market currencies, without fixing it.

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