India's currency is the Rupee, abbreviated as Rs. One Rupee is equal to 100 Paise.
Coins are in denominations of 10, 25 & 50 Paise & l, 2 & 5 Rupees. Notes are in denominations of Rs. 1, 2, 5, 10, 20, 50, 100 ,500 and 1000.
It is advisable to carry a mix of cash and travellers cheques to guard against any situation. US Dollars are the easiest currency to change with pounds sterling coming a close second. Other hard currencies such as Yen, French Francs, Deutsche Mark can also be changed in tourist areas and big cities.
There are no restrictions on the amount of foreign currency or travellers' cheques a tourist may import, provided a Declaration Form is completed on arrival by the tourists if they enter the country with US$10,000 or its equivalent in any other currency.
This will facilitate the exchange of imported currency as well as the export of unspent currency on departure or for tax clearance certificates. Cash, bank notes and travelers' cheques up to US$2.500 or equivalent need not be declared at the time of entry.
Any money in the form of travellers' cheques, drafts, bills, cheques, etc. which tourists wish to convert into Indian currency should be exchanged only through authorised money changers.
Tourists are warned that changing money through unauthorised persons is not only illegal but also involves the risk of receiving counterfeit currency. To exchange foreign money other than through banks or authorised money changers is an offence.
Please note that no Indian currency whatsoever can be imported or exported, except for Rupee travellers' cheques. Banks abroad do keep Rupee balances with their agents in India and are able to draw upon these balances to issue Rupee traveller's cheques to intending tourists.
There are 24 hour exchange facilities available at all big cites and international airports. Banking hours in India are from 10 a.m. to 2 p.m. (Mon.-Fri.) and from 10 a.m. to 12 noon on Saturdays. One can also wire money into India.
These services are offered by foreign banks with branches in India and also with Indian banks with branches abroad such as the State Bank of India, Bank of India and Bank of Baroda
Most branches of State Bank of India and all major nationalized banks have special foreign exchange counters.
All Credit cards (like Master, VISA, Diners, American Express & others ) are widely accepted in India.