*Rates are indicative based on HDFC daily spread averages. Actual bank rates at the branch may vary including GST and transaction fees.
Understanding HDFC Bank Currency Exchange Rates
When dealing with international travel or remittances, the HDFC Currency Exchange Rate Calculator helps you estimate how much foreign currency you will receive or how many Indian Rupees (INR) you need to pay. HDFC Bank, like most financial institutions, applies a "spread" or "markup" on the interbank exchange rate.
How HDFC Forex Rates are Determined
HDFC publishes daily rates for various currencies. These rates differ based on whether you are buying or selling currency.
TT Buy Rate: Used for incoming wire transfers (receiving money from abroad).
TT Sell Rate: Used for outward remittances (sending money abroad).
Bills Sell/Buy: Applied to physical currency notes and traveler's checks.
Example Calculation
If you are planning a trip to the USA and want to load $2,000 onto an HDFC ForexPlus Card:
Total Cost: 2,000 x 84.25 = 168,500 INR (plus GST).
HDFC Forex GST Tiers
In India, GST is applicable on the gross amount of currency exchanged:
Up to ₹1,00,000: 1% of the gross amount (Min ₹250).
₹1,00,001 to ₹10,00,000: ₹1,000 + 0.5% of the amount exceeding ₹1L.
Above ₹10,00,000: ₹5,500 + 0.10% of the amount exceeding ₹10L (Max ₹60,000).
Frequently Asked Questions
Is the HDFC Forex Card rate the same as the cash rate?
No. Generally, HDFC Multicurrency Forex Cards offer better exchange rates (lower markup) compared to physical currency notes due to lower handling costs for the bank.
When are HDFC exchange rates updated?
HDFC updates its forex rate card every business day, usually around 10:00 AM IST. Rates may fluctuate during the day in cases of extreme market volatility.
function calculateHDFCForex() {
var amount = parseFloat(document.getElementById('fx_amount').value);
var from = document.getElementById('fx_from').value;
var to = document.getElementById('fx_to').value;
var type = document.getElementById('fx_type').value;
var resultDiv = document.getElementById('fx_result_container');
var finalVal = document.getElementById('fx_final_value');
var rateInfo = document.getElementById('fx_rate_info');
if (isNaN(amount) || amount INR -> To
var inrValue = amount * toINR[from] * (1 – markup);
effectiveRate = toINR[to] * (1 + markup);
convertedAmount = inrValue / effectiveRate;
}
// GST Calculation (Approximate simplified Indian GST for forex)
var gst = 0;
var inrEquivalent = (from === "INR") ? amount : (amount * toINR[from]);
if (inrEquivalent <= 100000) {
gst = Math.max(250, inrEquivalent * 0.01) * 0.18;
} else if (inrEquivalent <= 1000000) {
gst = (1000 + (inrEquivalent – 100000) * 0.005) * 0.18;
} else {
gst = (5500 + (inrEquivalent – 1000000) * 0.001) * 0.18;
}
// Display Results
resultDiv.style.display = 'block';
finalVal.innerHTML = convertedAmount.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}) + " " + to;
var unitRate = (from === "INR") ? (1 / effectiveRate).toFixed(6) : effectiveRate.toFixed(4);
rateInfo.innerHTML = "Exchange Rate: 1 " + from + " ≈ " + (convertedAmount / amount).toFixed(4) + " " + to + "Estimated GST on service: ₹" + gst.toFixed(2);
}