Why track Exchange Rates if you transfer money regularly

If you live in the USA and send money to your family back in India regularly, keeping track of the exchange rates is a good idea. When you convert USD to INR, the amount you send to your family and the amount they receive depends on the exchange rate offered by the money remittance service you are dealing with.

Importance of keeping track of exchange rates regularly

It is important to stay vigilant and keep a close eye on exchange rates to ensure that you are getting the best value for your money. Here are some more reasons for keeping track of USA to India money exchange rates:

• Get the best value for your dollar

USD to INR exchange rates keep fluctuating with time. If the exchange rate is particularly favourable, you can send more money for the same amount of your home currency, resulting in better value for your money.

• Effective budgeting

By monitoring exchange rates, you can accurately forecast how much money you will send considering any changes in exchange rates. This can help you budget more effectively and avoid any surprises when you send money.

• Make an informed decision

Factors like the current inflation and interest rate in the country, political conditions, wars or changes in Government influence exchange rates. Tracking the exchange rate can help you time your transfer to ensure you get the most favourable rate possible.

What happens if you do not keep track of the exchange rate?

If you transfer money regularly from the USA to India and do not pay attention to the USD to INR exchange rate, you may end up paying more than you need to for transferring the funds, which may take away a lot of your money or stretch your budget.

Transfer funds from the USA to India through Money2India

Money2India is the remittance service offered by ICICI Bank. It is one of the best remittance services in the USA and is trusted by millions of customers. Many people in the USA use Money2India to transfer funds to India as they enjoy the following benefits-

• You can send money from any Bank in the USA to any Bank in India
• You need not be an existing ICICI Bank customer to use Money2India
• You get the most attractive exchange rates and get the best value for every dollar you remit
• You get a high transfer limit. You can send up to $300,000 in a single transaction
• You can transfer money safely and quickly. The money reaches the intended recipient within 3-4 hours
• You get the benefits of low transfer fees. If you transfer more than $1,000, then there is no transfer fee.