Search Suggestions
- Gold Loan
- Money Transfer
- Mutual Funds

WHAT ARE THE DOCUMENTS REQUIRED FOR MONEY EXCHANGE?
Whether you are travelling to some other country or coming back from a foreign country, you need to exchange the currency in both scenarios. Changing foreign currency has come a long way in India since there are so many options available now for you to exchange your desired currency. The most popular and preferable currency exchange mediums are commercial banks, RBI-approved money changers, airports, or online foreign currency exchange platforms. When you plan to visit a foreign country, you buy a foreign currency in exchange for your domestic currency, for example, a Dollar to Indian rupee. And selling foreign currency is when you return from a foreign country and you want to exchange the foreign currency for your domestic currency. Currency exchange can be done easily by choosing any one of the alternatives. These currency exchange platforms charge you an exchange rate that determines the value of your currency in a foreign currency. To buy or sell the foreign currency, you need to provide some documents to the currency exchange platform to verify your identity. Before understanding the documents required for money exchange, let us understand what are the factors that affect the currency exchange rate and if all the countries have exchange rate policies.
Types of Money Exchange Rates
There are two types of money exchange rates; flexible and fixed exchange rates. For some countries, the exchange rates change depending on some factors, while some countries’ currency exchange rates change very rarely.
Flexible Exchange Rates
Most country’s currency exchange rates are determined by the foreign exchange market. The exchange rates fluctuate very often and the government doesn’t really intervene to keep the exchange rates fixed. Hence, this type of exchange is called a flexible exchange rate.
Fixed Exchange Rates
Some countries’ currency exchange rates like Saudi Arabia change very rarely. The exchange rates change only when the government instructs the banks or currency exchange platforms to do so. Hence, it is called the fixed exchange rate.
Factors That Affect the Exchange Rates
There are a few factors that determine the exchange rate of a country, and because of these factors, the demand for the currency is determined.
-
Interest Rate Paid by the Central Bank
The higher the interest rate is paid by the Central Bank of the country, the greater the value of the currency will be. The investors will exchange currency for a higher-paying currency.
-
Money Supply by the Central Bank
If the government prints a surplus amount of currency in a country, the goods and services will fall short in comparison to the money supply, which ultimately gives rise to inflation. A country with high inflation can push the value of the currency down.
-
Economic Growth and Financial Stability of a Country
A country with a strong and growing economy will enable the investors to buy and sell the services. On the other hand, a country with poor economic growth and financial stability will restrict the investors to put in any money.
Documents Required for Money Exchange
When you buy or sell a foreign currency, there are some documents that you need to keep in handy to prove your identity. Here is a list of documents that you need for money exchange in India.
For Buying Foreign Currency
-
A valid passport
-
A valid VISA for the country you want to travel
-
Confirmed ticket (travel within 60 days once got the exchanged currency)
-
PAN card
-
Aadhar card
For Selling Foreign Currency
-
Valid passport (mandatory for transactions above INR 25,000)
-
Driving license
-
Voting ID
-
Aadhar card
-
PAN card
In case you are an NRI and looking for any specific bank services for the NRO or NRE account, then you must carry the overseas address proof.
Whenever you need a foreign exchange in India or from a foreign country, Muthoot Finance has got your back to provide you with the desired currency with accurate exchange rates. Our exchange rate services are executed as per the RBI guidelines and we ensure to provide our customers with the best-in-class money exchange services in India without any hassle. Muthoot Finance also offers its customers a currency rate converter where customers can check the prevailing exchange rates before going ahead with the currency exchange. Muthoot Finance currency exchange services are available online as well for the ease of our customers.
CATEGORIES
OUR SERVICES
-
Credit Score
-
Gold Loan
-
Personal Loan
-
Cibil Score
-
Vehicle Loan
-
Small Business Loan
-
Money Transfer
-
Insurance
-
Mutual Funds
-
SME Loan
-
Corporate Loan
-
NCD
-
PAN Card
-
NPS
-
Custom Offers
-
Digital & Cashless
-
Milligram Rewards
-
Bank Mapping
-
Housing Finance
-
#Big Business Loan
-
#Gold Loan Mela
-
#Kholiye Khushiyon Ki Tijori
-
#Gold Loan At Home
-
#Sunherisoch
RECENT POSTS

Understanding Financial Security: Meaning, Importance & Benefits
Know More
Flat vs Reducing Interest Rate: Which One Should You Choose?
Know More
What are Sectoral Mutual Funds? When to Invest in Them
Know More
10 Smart Strategies to Repay Your Home Loan Faster
Know More
Paper Gold Vs Physical Gold: Key Differences Explained
Know More
Investing vs Saving: Key Differences You Must Understand
Know More
Understanding How Mutual Funds Work: A Complete Guide
Know More
Top 5 Different types of Short Term Loans in India
Know More
What Is a Digital Gold Loan and How Is It Different from Traditional Gold Loans?
Know More
What Is CKYC and Why Is It Important for Loan Applicants
Know MoreFIN SHORTS

Why Digital Gold Loans Are Gaining Traction in 2025
Know More
Gold Price Forecast for the Next 6 Months
Know More
Why Travel Is Now the Top Reason for Indians to Take Personal Loans
Know More
Repo Rate Cuts, Inflation, and Your EMI: Navigating Personal Loans in 2025
Know More
A ₹10,000 SIP Could Turn into Crores?
Know More
NPS Repairs: 6 Big Reforms Everyone Should Know
Know More
4 Reasons Gold Loans Are Popular in South India
Know More
Top 5 Mutual Funds Giving Highest Returns in July 2025
Know More
How to Read Muthoot Finance Share Price Trends Daily?
Know More
Share Price Today: Key Factors Influencing Stock Market Movement
Know More
Top Performing Mutual Fund Categories in 2025
Know More
Why Gold Loans Doubled in 2025: Insights
Know More- South +91 99469 01212
- North 1800 313 1212