State Bank of India Exchange Rate Calculator
The State Bank of India (SBI) Exchange Rate Calculator is designed to help individuals and businesses estimate the value of their currency conversions based on current market trends and SBI's forex mechanisms. Whether you are sending an outward remittance for education, receiving an inward remittance, or planning foreign travel, understanding the conversion dynamics is crucial.
SBI Currency Converter
Remittance to India (Convert Foreign Currency to INR)
Remittance Abroad (Convert INR to Foreign Currency)
Select "Remittance to India" if you are receiving money. Select "Remittance Abroad" if you are sending money from India.
USD – US Dollar
EUR – Euro
GBP – British Pound
AUD – Australian Dollar
CAD – Canadian Dollar
JPY – Japanese Yen
SGD – Singapore Dollar
AED – UAE Dirham
Enter the current TT Buying/Selling rate from the SBI website.
Amount to Convert:
0.00
Effective Exchange Rate:
0.00 INR
Converted Amount:
0.00
Note: This calculator provides an estimation. Actual rates (TT Buying/Selling or Bill Buying/Selling) fluctuate throughout the day. Please verify the exact rate at your local State Bank of India branch or the official SBI forex card rates page before transacting.
Understanding SBI Forex Rates
When dealing with international transactions through the State Bank of India, it is important to distinguish between the different types of rates applied:
- TT Buying Rate (Telegraphic Transfer): This rate applies when money is transferred into your account from abroad (Inward Remittance). The bank "buys" the foreign currency from you and gives you INR.
- TT Selling Rate: This applies when you send money abroad (Outward Remittance). The bank "sells" you the foreign currency in exchange for your INR.
- Bill Buying/Selling Rates: These are generally used for trade transactions involving import/export bills rather than pure wire transfers.
- Currency Notes Rate: This is the cash rate used when you physically exchange currency notes at a branch, which often has a higher margin than TT rates.
How to Use This Calculator
- Select Transaction Type: Choose whether you are converting foreign currency into Indian Rupees (Buying) or Indian Rupees into foreign currency (Selling).
- Choose Currency: Select the relevant foreign currency code (e.g., USD, EUR, GBP).
- Enter Amount: Input the amount of currency you wish to convert.
- Input Rate: Enter the current SBI exchange rate. Since rates change daily, check the "SBI Daily Forex Rates" PDF usually available on their portal for the most accurate figure.
- Calculate: Click the button to see the final converted value.
Factors Affecting Exchange Rates
The rates offered by SBI are influenced by interbank rates, the bank's margin (spread), and volatility in the global forex markets. For high-value transactions, you may be able to negotiate a better rate directly with the treasury branch.
// Indicative rates for auto-fill convenience (approximate market values) var indicativeRates = { 'USD': 83.95, 'EUR': 91.50, 'GBP': 108.20, 'AUD': 55.40, 'CAD': 61.80, 'JPY': 0.55, 'SGD': 63.10, 'AED': 22.85 }; // Function to update labels and placeholders based on selection function updateLabels() { var type = document.getElementById('transactionType').value; var currency = document.getElementById('currencyCode').value; var amountLabel = document.getElementById('amountLabel'); if (type === 'buy') { // Foreign -> INR amountLabel.innerText = "Amount (" + currency + ")"; } else { // INR -> Foreign amountLabel.innerText = "Amount (INR)"; } updateRatePlaceholder(); } // Function to update the suggested rate input based on currency function updateRatePlaceholder() { var currency = document.getElementById('currencyCode').value; var rateInput = document.getElementById('exchangeRate'); // Check if we have a rate, otherwise default to blank if (indicativeRates[currency]) { rateInput.value = indicativeRates[currency]; } else { rateInput.value = "; } // Also update label immediately var type = document.getElementById('transactionType').value; var amountLabel = document.getElementById('amountLabel'); if (type === 'buy') { amountLabel.innerText = "Amount (" + currency + ")"; } else { amountLabel.innerText = "Amount (INR)"; } } // Function to calculate the exchange function calculateExchange() { // 1. Get input values var type = document.getElementById('transactionType').value; var currency = document.getElementById('currencyCode').value; var amount = document.getElementById('amount').value; var rate = document.getElementById('exchangeRate').value; // 2. Validate inputs if (amount === "" || isNaN(amount) || parseFloat(amount) <= 0) { alert("Please enter a valid amount."); return; } if (rate === "" || isNaN(rate) || parseFloat(rate) <= 0) { alert("Please enter a valid exchange rate."); return; } var numAmount = parseFloat(amount); var numRate = parseFloat(rate); var finalAmount = 0; var resultText = ""; var amountText = ""; // 3. Perform Logic // Rate is always price of 1 unit of foreign currency in INR (e.g. 1 USD = 83 INR) if (type === 'buy') { // Scenario: Buying INR (Selling Foreign Currency to Bank) // Input Amount is in Foreign Currency // Calculation: Foreign Amount * Rate = Total INR finalAmount = numAmount * numRate; amountText = numAmount.toLocaleString('en-US') + " " + currency; resultText = "₹ " + finalAmount.toLocaleString('en-IN', {minimumFractionDigits: 2, maximumFractionDigits: 2}); } else { // Scenario: Selling INR (Buying Foreign Currency from Bank) // Input Amount is in INR // Calculation: INR Amount / Rate = Total Foreign Currency finalAmount = numAmount / numRate; amountText = "₹ " + numAmount.toLocaleString('en-IN'); resultText = finalAmount.toLocaleString('en-US', {minimumFractionDigits: 2, maximumFractionDigits: 2}) + " " + currency; } // 4. Display Results document.getElementById('resAmount').innerHTML = amountText; document.getElementById('resRate').innerHTML = "1 " + currency + " = " + numRate.toFixed(2) + " INR"; document.getElementById('resTotal').innerHTML = resultText; document.getElementById('resultBox').style.display = "block"; } // Initialize on load window.onload = function() { updateRatePlaceholder(); };