Do you want to travel abroad, study in a foreign country, or send money internationally? If the answer is yes, you’ve probably found yourself needing to exchange Indian Rupees (INR) for a foreign currency. That is a portion of foreign exchange, or forex.
Whether you are in Mohali, Chandigarh, or Panchkula, an understanding of the nuances of currency conversion can go a long way and help you make decisions with confidence. At Unipay Forex, we’re committed to not only offering the best exchange rates in Tricity, but also the knowledge needed to operate in the world of forex with confidence.
This step-by-step guide provides a comprehensive overview of everything you need to know about forex exchange, real-time currency exchange, and where to sell or purchase forex in Tricity.
What is Forex Exchange, and Why Does It Matter?
Forex, or foreign exchange, is the process in which one currency is traded for another, generally for reasons such as travel, education, business, or investment. According to the Bank for International Settlements 2022 Triennial Survey, global FX trading averaged $7.5 trillion per day in April 2022. (Source:BIS, 2022)
As you exchange Indian Rupees for US Dollars, Euros, Dirhams, or any other currency, you are dealing with the full scope of the world’s forex market. All such transactions in India are governed by the Reserve Bank of India (RBI), so you can be assured of safety, transparency, and compliance.
Whatever your status, whether you are a student traveling abroad, a tourist organizing a trip, or a businessman importing goods, understanding the basics of forex can empower you to make your financial decisions better.
How Currency Conversion Works
Currency exchange relies on what is widely referred to as an exchange rate—the value of one currency in relation to another. For example, if 1 USD equals ₹86.39, you will need ₹8,639.35 to buy 100 USD.
These are daily rates governed by a variety of factors, including:
- Demand and supply
- Inflation and interest rates
- Geopolitical stability
- Central bank regulations
At Unipay Forex, we provide you with current exchange rates, so you get the most out of your money.
Learn more about market dynamics, rate fluctuations, and the best times to exchange in our in-depth blog on How Currency Exchange Works.
Currency exchange relies on what is widely referred to as an exchange rate—the value of one currency in relation to another. For example, if 1 USD equals ₹86.39, you will need ₹8,639.35 to buy 100 USD.
These are daily rates governed by a variety of factors, including:
- Demand and supply
- Inflation and interest rates
- Geopolitical stability
- Central bank regulations
At Unipay Forex, we provide you with current exchange rates, so you get the most out of your money.
Bank vs Online Exchange Rates – What’s the Difference?
Most individuals look at bank exchange rates or browse the internet for today’s exchange rates, but there is a significant aspect that typically escapes newbies: you don’t always receive the rate shown.
Banks usually impose a markup, even though a better rate is on offer at some websites. At Unipay Forex, we strongly believe in transparency—our exchange rates are the actual market rate, updated in real time, with no hidden charges.
Currency Exchange Options Available in Tricity
Living in Chandigarh, Mohali, or Panchkula? You have various possibilities of currency exchange:
- Local Banks – Safe but usually slower and more expensive
- Airport Kiosks – Convenient but enormously inflated prices
- Licensed Money Changers, like Unipay Forex, offer competitive exchange rates in addition to quick service.
Where to Exchange Currency in Tricity
Unipay Forex has an established track record in Mohali, serving thousands of clients in the Tricity area with impeccable, RBI-compliant services.
These are the services Unipay offers and excels at:
Currency Notes
Best for those who require physical currency. For the bigger currencies such as USD, EUR, GBP, AED, etc
Forex Cards
Reloadable travel prepaid cards—intelligent and secure compared to cash. Offers better exchange rates and international ATM access.
Get a multi-currency forex card that’s smarter than cash.
Internet Forex Services
Buy/sell forex in the comfort of your own home. With our easy-to-use platform, you can:
- Lock-in rates
- Track order process
- Order home delivery
- Monitor market conditions in real-time
First-Time Forex User? Here’s What to Keep in Mind
- Compare rates from various sources before finalizing a decision.
- Select only RBI-approved providers, like Unipay Forex.
- Have a mix of currency notes and a forex card for safety and convenience.
- Keep important documents like your passport, visa, and air tickets handy when needed.
Why Choose Unipay Forex in Tricity?
- Live, transparent exchange rates
- Instant currency availability
- Forex cards for international travel
- Online platform for booking, buying, and selling
- Personalized assistance from forex experts
- RBI-authorized and fully compliant services
Whether you need to buy USD for a vacation, load a forex card for studies abroad, or simply sell leftover currency, Unipay Forex is your go-to currency exchange partner in Mohali and Tricity.
Final Thoughts
Forex exchange does not have to be intimidating. A good guide and a reliable partner, and your money exchange can be a smooth experience. At Unipay Forex, we simplify each step for you—offering live rates, professional advice, and top-notch service across Tricity.
Ready to exchange your currency? Visit us at Unipay Forex in Mohali, and let’s get started.
Frequently Asked Questions
Q: Can we buy forex online in Mohali or Chandigarh?
A: Yes, Unipay Forex provides a hassle-free online forex exchange facility to Tricity inhabitants.
Q: How is it advisable to verify up-to-date exchange rates?
A: You may visit www.unipayforex.com or speak with our staff for the latest, most current prices.
Q: Is Unipay Forex authorized by the RBI?
A: Yes. We are a licensed forex provider, offering secure and compliant transactions.
Q: Which is more useful: currency notes or a forex card?
A: Each has its advantages. We suggest carrying a combination for convenience and safety on the go.
