INR TO CAD :: EXCHANGE RATE //// TRAVELLER'S CHEQUE (P.O.F)

[decent]

I would like to know the most economical way to get Canadian Dollars for showing as POF. (name of bank or money changer or any other method)

I am planning to take 20% of the required amount as cash and the rest in the form of traveller's cheques or DD.... not sure though which one is better.

I have heard of Hello Canada accounts from ICICI bank. If I open an account with them, will that be profitable instead of converting Rs to CAD??
Due to the long wait for the Visa, the required POF amount has increased considerably hence the need for carefully choosing the best way out.

I hope you have something to share on this.

Thanks

 

[wilson]

If you want to convert your Indian currency you need to ask the exchange rate from different banks/foreign exchange companies in your town and compare. The exchange rate goes up and down every day. It is better to monitor the rate fluctuation on the local news paper or on the websites of Forex traders.

If you buy travelers check, ask the bank for higher denomination like 100s instead of small denominations. The demand draft is better but will take few days to get credited to your account. If you open an account from India and transfer the funds before arriving in Canada, perhaps the BSA at landing airport may not be satisfied with your bank statement obtained from India. Keeping 20% cash and remaining by DD or TC is ideal. If you have any excess amount over the POF, you can remit it to the Canadian account opened on line from India.