dollar exchange

[anjalika400]

Hi. my friend is going to Calcutta,India for a month.She is planning to carry some cash (over 1000 dollars) and wants to exchange it from a reliable exchange place or agent who offers good rate..Please let us know which places are good for that and what are the documents required for this? Do they keep a copy of the passport and other documents and submit anywhere?We heard some places don't require any documents to show.If you have any information,please share with us.
My last question is what are the criteria for money exchange(USD t INR) in India? Can anyone do it or only those people who have passport and used it for traveling?
Thanks

[txh1b]

1000 USD isn't a whole lot of money to negotiate a great exchange rate with any bank. If the amount is high, some banks will negotiate a higher exchange rate if you leave the money with them.

You can go to any bank with a foreign exchange department and they will give you the latest RBI buy rate for the money. Private agencies like Thomas Cook etc also buy the money.

[anjalika400]

certainly 1000 usd is no a huge amount to negotiate. and my question was not related to that at all.I wanted to know what documents are required for exchanging that and or if that's possible without without any documentation. because she is gonna spend that amount as a part of her wedding shopping and doesn't need to exchange back to usd or need any exchange certificate.I heard banks and western union thohmas cook etc do that, but they need a copy of passport and other docs and for banks you gotta have an account in that bank which is a lil ridiculous.And we heard about private agents who don't need these papers and all .So she asked my if I know someone in Calcutta .
I never did that before , so though of getting some suggestions from forum members.
Thanks

[immihelp]

They need to carry the passport when they go to exchange the currency. What is the problem with that?

[michellepinto91]

I think one must try to avoid airports and arrival areas as they tend to overcharge for currency exchange. Infact buying currency online can give you a better deal. they have better rates and they also have a rate advantage policy. Moreover is a well renowned foreign exchange specialist and are way more reliable than others. You would need one identification like your passport or PAN card.