Charges to Send Money Abroad from India

Send money from India to Australia
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Charges to send money from India to Australia

Send money from India to Australia is becoming inevitable with more and more relations and friends moving abroad for Education, Employment, Immigration, Visa fees, Maintenance of a close relative, Medical treatments, etc. The next obvious question that comes to mind is the charges to send money from India to Australia. It is a known fact that the forex market is subjected to frequent changes that vary from time to time.

What are the factors that traditionally affect the foreign exchange market and its rates?

  • Inflation Rates: The economic condition of a nation largely affects the exchange rate of its currency value depending upon the current events and new information. The lower the inflation rates of a country, there is more chance for the currency value of that country to rise. A country with a constant lower inflation rate leads to rising currency value, as its purchasing power rises in relation to other currencies.
  • GDP Growth Rate: Whether the country is experiencing an economic upturn or downturn can be evaluated by its GDP rate, which in turn affects the value of the country’s currency. In addition, economic indexes such as the balance of payments, the export/ import ratio, the level of government debts, and political stabilities, all have an effect on the Forex market.
  • Interest Rates: The principal instrument used by the central banks to control the value of a currency is the interest rates. In general, the higher the interest rate, the higher the value of a currency.

What is the cost of sending money from India to Australia?

Send money from India to Australia depends upon some conditions such as

  • IBR + nominal charges based on the volume of requirements.
  • Rates of Foreign exchange in the marketplace
  • A meager service charges incurred by the company which often varies due to the company’s expertise and proficiency in serving the same.