Currency & Costs in India

The unit of currency in India is the Rupee , usually abbreviated Rs or somtimes as INR for Indian National Rupee. One Rupee is divided into 100 paise. Major currencies can be changed at banks, and authorised bureaux de change. It is illegal to exchange money through the black market.

Currency notes of 10, 20, 50, 100, 500 and 1000 rupees are in circulation. Occassionally, you may find notes of 1, 2 and 5 also. If you're a collector, keep them for their historical value. They are no longer produced. Coins start at 5 paise then range up to 10, 20, 25 and 50 paise, and 1, 2 and 5 rupees. The 5, 10, & 20 paise coins are also no longer produced, but are occassionally found in circulation.

Usually, lower denomination notes are damaged. Don't accept torn notes. No one will accept them, though you can change them at the Reserve Bank of India and large branches of other banks. Do not pass them on to beggars,since they can't use them either, so it amounts to an insult.

Large denominations may be a problem, as change is usually in short supply. Larger notes - like the Rs500 note - are good for travelling with and can be changed for smaller denominations at hotels and other suitable establishments. Also note that the Rs500 note looks remarkably similar to the Rs100 note.

Travellers cheques and major credit cards are widely accepted, particularly in tourist orientated establishments. ATMs are available in major cities and towns.