Who Sets the Daily Exchange Rates?

Send money overseas with a money transfer service that respects your courage and honors your needs. CompareRemit presents Remitly as a strong money transfer service for all your money transfer needs. Promises Delivered, Affordably!Leaving your family behind to live in a strange country so you can earn more money is a huge sacrifice. You miss special moments, life’s milestones, and most of all, you miss them. You want to be sure that they know how much they mean to you and that you have them in your heart and in your mind. When you make money through gig driving in a distant country, you want to share your earnings with family and friends overseas. You need a money transfer company that is reliable, trustworthy and fairly priced.Why is Reliable and Affordable Money Transfer Important?Companies that overcharge for transfers might not realize that giving immigrant communities access to trustworthy financial tools helps them to make a huge difference in the lives of the people back home. There are many money transfer companies to choose from. Some have been around for a very long time, while others are relatively new on the scene. You need to have a service you can depend on and also easily afford.Fortunately, there is a safe, reliable, and affordable money transfer company eager to serve gig drivers like you. Remitly* wants you to have control over your transactions and be able to make them affordably. After all, the people waiting for the money you’re sending them can’t afford to get any less than you have promised.Deliver on your Promises with RemitlyThe founders of Remitly are committed to putting the customer first. Their goal has been to produce a product that lets you send money affordably and transparently. Remitly keeps its promises to you, so you can keep your promises to the friends and family who depend on you.How Does Remitly Deliver on its Promises?Get prompt and secure money transfer services, with fair exchange rates and no hidden fees.Your money transfer is delivered on time, or Remitly will refund your fees.Download Remitly’s easy-to-use app.Available in 18 languages.Remitly serves more than 170 countries around the world.Keeping customer’s personal data protected is Remitly’s priority. Remitly uses multiple levels of security so you can send money home with peace of mind.Choose the most convenient delivery method.Send to a bank account, mobile wallet, or select home delivery, cash pickup, or debit card deposit (to an eligible debit card), depending on your recipient’s location.Conveniently transfer funds using your bank account, credit card, or debit card.Remitly’s global network includes banks and approximately 470,000 cash pick-up options worldwide—and—recipients don’t pay a fee!Track your transfers on the app, or get assistance with ease.The Remitly app lets you track every transfer as it is processed.Remitly answers your questions 24/7.Transparency with Every TransferRemitly is dedicated to serving the people who work so hard to help their families at home. Remitly offers their best available exchange rates every time you send money. To check the exchange rate, sign in to your profile in the Remitly app or on Remitly.com and start a new transfer.If you’re a new customer, you might qualify for a promotional exchange rate. Remitly is committed to giving you great exchange rates and no hidden fees — so more of your money makes it home. Select the country to where you’re sending the money and the delivery method, along with the amount you’d like to send, and the app will show you the fee and exchange rate you can expect. Obviously, exchange rates are subject to change, but Remitly will show you their current rates, and with transfer updates you’ll be able to track what’s going on with your transfers every step of the way.We know that when it comes to choosing a money transfer service, you have lots of options. We hope that you see why making your transfers with the Remitly app* is as good for you as it is for the loved ones you send money to back home.Remitly’s focus on digital money transfer landed it on CNBC’s 2024 list of the World’s Top 250 Fintech Companies. See why the Remitly app receives consistently high ratings on the Google Play Store and the Apple App Store. Download the app, and put the power of Remitly into the palm of your hand.Click here* to learn more about Remitly and send money home to your loved ones today!*This is an affiliate link. If you click through and make a money transfer, CompareRemit may earn a commission at no additional cost to you

Independence Day is a time of pride and joy, and what better way to celebrate than by sending a special gift to your loved ones back home in India? As you join in the festivities from abroad, it’s the perfect moment to show your support and love by transferring money to family and friends. In this guide, we’ll walk you through how to find the best money transfer services for sending money to India and how CompareRemit can help you make the most informed decision. How to Send Money Home for Independence DaySending money home to India can be straightforward, but choosing the right service involves more than just finding the best exchange rate. Whether you’re looking to send money from the US to India or vice versa, it’s crucial to consider various factors to ensure you get the best deal. CompareRemit is here to help you navigate through the options available, so you can celebrate Independence Day with peace of mind.  Finding the Best Money Transfer ServiceWhen it comes to transferring money, several factors come into play, including exchange rates, transfer fees, speed, and convenience. Let’s explore these elements in detail:Exchange Rates: While the USD to INR exchange rate is important, it's not the only factor to consider. Some services may offer a slightly lower rate but make up for it in other areas. However, it's still crucial to find a competitive rate. Use CompareRemit to easily compare USD to INR exchange rates from various providers.Transfer Fees: Some companies charge high fees that can eat into your transfer amount. Others, like ICICI Money2India, offer no transfer fees for large amounts. Always check the fees before deciding.Transfer Speed: If you need money to reach India quickly, consider services that prioritize speed. Services like Remitly emphasize quick transfers, ensuring that your money reaches India swiftly. This can be especially important if you need to send money urgently.Convenience: Consider how easy it is to use each service, especially if you plan to send money regularly. Convenience can make a big difference. New players like Unplex are making transfers more convenient by allowing you to send money through WhatsApp. Promotions and Special Offers: Keep an eye out for special deals. For instance, SBIC is offering an Independence Day promotion with a 20 paisa better rate until August 18th. These promotions can provide significant savings.CompareRemit: Your Go-To Tool for Comparing Transfer ServicesWhether you choose to send money via a bank transfer or an online service, CompareRemit’s Compare Tool allows you to compare top banks and money transfer companies quickly and efficiently. You can compare rates, transfer times, fees, and more to find the best option for your needs. This process only takes minutes, ensuring that you make a well-informed choice and get the most value for your money.Celebrate Independence Day by Sending Money HomeThis Independence Day, make your loved ones feel special by sending them a thoughtful gift. By using CompareRemit to find the best money transfer service, you can ensure that your money reaches home quickly and affordably. Celebrate the spirit of freedom and connection by choosing the right service to send money to India, and enjoy the peace of mind that comes with knowing you made the best choice!

The USD to INR exchange rate just hit an all time high for 2024! On August 5, 2024, the USD to INR exchange rate reached an all-time high of 1 USD to 84 INR. This significant rise in the rate marks a milestone for those looking to send money to India, as the exchange rate is now more favorable than ever before. Understanding how this increase impacts your remittance to India is essential, especially if you want to get the best value for your money.The Recent Surge in the USD to INR Exchange RateIn March 2024, we witnessed a jump in the USD to INR rate from 82 INR to 83.5 INR. Since then, the USD to INR rate has been steadily increasing from 83.5 INR to eventually reaching 84 INR in August. This rise has been influenced by various political events that have strengthened the US dollar, increasing demand and pushing the exchange rate higher. As a result, the current rate of 1 USD to INR is at its peak for 2024, presenting an excellent opportunity for those planning to send money to India.On November 1, 2023, we saw a sudden spike in the USD to INR rate going beyond 85 rupees. It only lasted a day, but it was still a great day for those sending money home. What seemed like a marvel then, doesn’t seem too far off now. As the demand for the US dollar increases, we wonder how long it will take for the Google rate to hit 1 US dollar = 85 Indian rupees. How to Get the Best Exchange Rate for USD to INRTo reiterate what we said earlier, with the USD to INR exchange rate reaching new heights, many money transfer companies are offering competitive rates to attract customers. Some companies, particularly those not affiliated with banks, may offer rates higher than the standard 84 INR per dollar. In fact, a USD-INR rate of 1 to 84 rupees, which was highly impressive just a few weeks ago, is quickly becoming the new standard. We may even see some companies offering rates as high as 1 USD to 85 INR in the coming days and weeks.To ensure you get the best exchange rate, it’s essential to compare different money transfer services. CompareRemit allows you to do just that. Whether you choose a bank transfer or an online transfer, our platform helps you compare the top banks and money transfer companies to find the best rates, transfer times, and fees.Why Now Is the Time to Transfer Money to IndiaFor those looking to get the most value when sending money to India, the time to act is now. The USD-INR rate is currently guaranteed at 1 to 84, but there's no telling how long this will last. Rates could continue to rise, making it more expensive to transfer funds.However, it's important to note that exchange rates can also be volatile, with rates sometimes jumping up and then falling back down. This means that those who want to wait and see how companies adjust their rates are playing a game of risk and reward. We may see that this 84 rupee rate is a blip and the rate will fall back down over time or this may also leave an opportunity to get an even better deal down the line.Staying Updated on the Best Exchange RatesFor those who prefer to wait and watch how the exchange rate evolves, CompareRemit offers tools to keep you informed. You can subscribe to our daily newsletter, which provides updates on the best exchange rates for that day. Alternatively, you can use our rate notification system, where you set your desired exchange rate, and we’ll notify you when a company offers that rate. This way, you can immediately take advantage of the best exchange rate the moment it becomes available.CompareRemit: Your Best Tool for Finding the Right Money Transfer ServiceWhether you’re sending money to India from the USA or looking for the best way to transfer funds, CompareRemit is your go-to tool. Our platform allows you to compare exchange rates, transfer fees, and transfer times across top banks and money transfer companies. This comparison helps you find the best service that suits your needs, saving you time and ensuring you get the most value for your money. It only takes minutes to find the best option, making the process of sending money abroad simple and efficient.CompareRemit allows users to subscribe to a daily newsletter which informs users of the best rates that day. For those who have some more time to wait for the best rate, you can subscribe to a rate notification system which allows users to input their desired exchange rate and when a company hits that rate, they will get a notification, allowing them to immediately take advantage of the optimal rate the moment it's live. Conclusion: Act Now to Get the Best USD to INR RateThe recent surge in the USD to INR exchange rate is a significant development for anyone looking to send money to India. With the rate at 1 USD to 84 INR, now is the perfect time to transfer funds and get the most value for your money. By using CompareRemit, you can easily compare rates and find the best money transfer service, ensuring that your remittance is handled efficiently and at the best possible rate.Check back in with us for more news about exchange rates and money transfer companies with competitive rates.