What is the Difference in Locked-in vs. Indicative / Floating Exchange Rates?

While transferring money from the US to India, you can either use locked-in exchange rates or indicative exchange rates. The only difference between these exchange rates is that you will know the exact amount of money that will be received by the recipient when you send money, with locked-in rates. On the other hand with indicative rates, you are not aware about it, as the exchange rate will be determined at the time of money transfer based on the Foreign-Exchange.

For example: If exchange rate on the day of transferring money is 55 rupees for 1USD, your recipient will receive an exact amount of 5500 INR, with locked-in rates. But, if you use indicative rates, the exchange rate is determined at the time of money transferred, as bank may not send money the same day you did the transaction.

To learn more about their differences, visit Locked-in Exchange Rates Vs. Indicative Exchange Rates

 
Money Transfer FAQ's
 

Most Viewed Q&A

Related Articles

Go Mobile

Get the Best Exchange Rates, Important Remittance Information and
Special Promotion Alerts on the go! Download Our Mobile App on your Smartphone or Smartwatch.

google play apple app store

Join Our Movement

Founded in 2012, CompareRemit is the first, largest, and fastest-growing money transfer comparison marketplace globally. Put your brand in front of millions of active remittance users, ready to send money using your services. To learn more schedule a call with our Strategic Partnership Manager or fill out the form below and we will reach out to you within 2 business days.

Submit your contact information and we will get back to you as soon as possible.

Invalid character entered.

Submit your contact information and we will get back to you as soon as possible.

Invalid character entered.

CompareRemit is a part of FrontAd Media Inc., a digital media company built by a team of passionate marketing experts, with in-depth knowledge and direct access to the immigrant population in the United States. We are not a conventional or typical marketing agency, but rather an end-to-end digital marketing solutions provider that works to bridge the gap between your brand and your target audience. Working with you every step of the way from concept to execution, FrontAd Media Inc is proven to deliver measurable results.

Thank you for contacting us. We will get back to you shortly.