INR to USD Converter — Indian Rupee to US Dollar — FY 2026-27
Convert Indian Rupees (INR) to US Dollars (USD) at the latest RBI / FBIL reference rate. For outbound remittances via LRS, factor in bank forex margin (typically 0.5-2% above reference rate) and Section 206C(1G) TCS above ₹7 lakh annual. Useful for study-abroad, foreign investment, overseas shopping, and remittances.
Compute your numbers → Currency Converter
Use the full Currency Converter for interactive computation with your exact inputs. This page covers the specific context + rules for your query intent.
Key rules at a glance
- Live RBI / FBIL reference rate
- Bank forex margin adjustment
- LRS TCS computation integrated
- Reverse conversion (USD → INR)
- Historic rate lookup for reporting
INR to USD rate sources
Two official Indian rate sources: (1) RBI reference rate — published daily at ~1 PM IST based on mid-market quotes from top 15 banks. Used for financial reporting, Form 26AS, and legal proceedings. (2) FBIL (Financial Benchmarks India) — more granular, minute-level rates used for RBI policy. For everyday conversions, RBI reference rate is the de facto standard. Bank retail rates differ by 0.5-2% margin.
How banks price INR-USD conversion
For an outbound USD wire of $10,000: base = $10,000 × RBI rate = ₹8.4L (at ₹84/$). Bank adds a forex margin (1-2%, e.g., ₹85/$ selling rate) = ₹8.5L. Plus SWIFT charge ₹1,500-3,000. Plus LRS TCS if above ₹7L annual (5% or 20% depending on purpose). Final cost to remit $10K can be ₹8.8L-9.2L. Shop across banks — differences of ₹5-10K per $10K are common.
GST on forex transactions
Yes — GST applies on the forex margin / service fee, not on the base amount. Current rates: up to ₹1L transaction — 0.18% of transaction value or min ₹45. ₹1-10L — ₹180 + 0.09% of amount exceeding ₹1L. Above ₹10L — ₹990 + 0.018% of amount exceeding ₹10L (max ₹10,800). GST is 18% on this service fee.
INR to USD Converter — FAQ
What is today's INR to USD rate?
Check RBI reference rate at rbi.org.in/Scripts/ReferenceRateArchive.aspx updated daily. As of FY 2026-27 the rate is hovering ~₹84-85 per USD. Bank retail rates add 0.5-2% margin on top of the reference rate.
How much does it cost to send $10,000 from India to USA?
At ₹84/$ RBI rate with 1.5% bank margin: ₹85.26/$ × $10K = ₹8.53L. Add SWIFT ₹2K + LRS TCS 5% on ₹1.53L above ₹7L threshold = ₹7,650. Total: ₹8.55L. Compare across banks — HDFC, ICICI, SBI, Axis can differ by ₹3-5K on the same $10K transaction.
Is INR to USD taxed?
No direct tax on conversion itself. But LRS outbound remittances attract TCS under Section 206C(1G) above ₹7 lakh annual (rate varies 0.5-20% by purpose). TCS is a credit against income tax liability, NOT an additional tax.
What is the maximum INR to USD I can convert per year?
$250,000 (≈₹2.08 crore) per FY per resident under LRS. No RBI approval needed within this cap. Above this requires specific RBI approval (very rare). Joint accounts don't get double — it's per-PAN, not per-account.
Forex card vs bank wire — which is cheaper for USD?
For small amounts (<$2K): forex card usually cheapest (~1% markup vs 2-3% on credit card). For large amounts (>$10K): bank wire cheapest — compare inter-bank rates via BookMyForex, ExTravelMoney for best quote. ATM withdrawals abroad with forex card cost $3-5 per transaction + 1% markup.