ICICI Exchange rate for USD

ICICI Exchange rate for USD

Posted in the ICICI Bank Forum


Jersey City, NJ

#1 Dec 16, 2007
The exchange rate you receive depends on the amount you transfer. I called money2India and the slabs are:
> 25k same rate

United States

#2 Sep 29, 2008
Got another question :

Assume that I transfer the $ today online.....

and the rate shows the rate as 46.52, but as i heard that when the money will get debited to your account in india --that time whats the dollar rate will be applicable....

Any experienced guys can answer this :

Phoenix, AZ

#3 Sep 29, 2008
You are correct..

New York, NY

#4 Sep 29, 2008
Thats not at all correct.
The Date and TIME it gets credited at that TIME the rate is applied.
I have immense Experience in this along with proof.

Louisville, KY

#5 Sep 29, 2008
Yes ur right.. the money will get credited not debited to your account in india --that time whats the dollar rate will be applicable....

United States

#6 Sep 29, 2008
Hi Rutherford,

You mean : the day we transfer ammount thats the rate applied for the ammount which is deposited to india after 2 or 3 days ( whatever is the Exchange rate on that day)????

New York, NY

#7 Sep 29, 2008
Its like this:
Day 0: You create a Request

After that in around 2-3 working days, your US A/c will get Debitted.

On 5th Working Day (of India), you Beneficiary A/c will get creditted.
The TIME of the 5th Day when it gets creditted at that time whatever rate M2I site is showing will be applied.

Why I stressing on TIME of 5th Day bcoz the rate shown on site fluctuates intra day.

Hope I made is clear.

P.S. Just an advice and dont take it as promotion or something - Use SBI to transfer money. Its better rate + the rate applied is the rate u give request and not the rate 5 days after.
You just have to open SBI A/c and keep $$ in before transfer.

La Crosse, WI

#8 Oct 11, 2008
Yes I too accept SBI transfer is cool and more reliable on the exchange rate...Try and see....

Gainesville, FL

#9 Sep 17, 2009
I agree with Gen and Mtol that SBI rates are much more cooler and reliable compared to others. I've been transferring money using ICICI, HDFC, Remit2India for long time but SBI is the Best of them all.

Dublin, Ireland

#10 Feb 23, 2010
Also worth trying www.transfermate.com

TransferMate are a global payments provider and offer fast cheap transfers to India from all over the world.

You can also view exchange rates on their online system and book online on the spot.

Newark, NJ

#11 Aug 12, 2010
With ICICI no matter how market fluctuate, you will always get lower rates than quoted.

Trust me on this.

North Chicago, IL

#12 Oct 21, 2010
Made a Intl wire transfer (NOT thru MONEY2INDIA service) from BofA to ICICI for $10100 on 12-Oct-2010. ICICI held the fund for around 1 week saying that some regulatory document needs to be signed by beneficiary. But when they held the fund they did not communicated it to the beneficiary even though they had all the contact details. Interesting thing is that when the beneficiary went to the bank they said the don't see that transaction at all. Then i had to call the BofA to get the SWIFT MIR# and call the ICI NRI phone banking to retrieve the transaction. After bugging them for 4-5 days, they completed the transaction and credited INR for $10088 (i guess $12 may be ICICI fees for Intl wire). Here is where they benefit with all this Drama..The exchange rate received was INR 43.64 which is INR 0.35 less than what they claim they will pay on that date(21-Oct-2010). That's not the end, had the ICICI A\c been credited timely i should have received the exchange rate of INR 44.21 as of 13-Oct-2010 as per their exchange rate published. So effectively they managed to benefit themself with INR 4842.44!!!

Here is the math...(44.12 - 43.64)= INR 0.48 *$10088 = INR 4842.44

I'm not saying ICICI is completely bad, but this practice of holding the funds which they think will benefit them will really hurt their business as it hurts their customers.
Use sbi

Houston, TX

#13 Dec 15, 2010
ICICI & citibanks gives different exchange rates for infosys employees & for rest.

Amman, Jordan

#14 Apr 14, 2011
dear friends
please guide me i have opened NRE account in icici bank. where can i get the exchange rates of icici on live. and also this bank service is o.k.

Chennai, India

#16 Jan 10, 2014
how much usd dollar today rate in icici bank
Raj Chanani

Fontana, CA

#17 Dec 9, 2015
I think the US Dollar will trade at 50 to 100 Rupees to the Dollar.

1 USD = 50 to 100 Rupees

100 Rupees = 1 to 2 US Dollars
Raj Chanani

Fontana, CA

#18 Dec 9, 2015
I hate ICICI bank. I was India about 10 years ago; me and my uncle went to exchange dollars for rupees at ICICI bank. The people there would not exchange the dollars to rupees. Those people were very rude.

Travelling to India is not fun. First they check us in America, then they check us in East Asia (Japan, Taiwan, Thailand, Singapore), then they check us in India (Kolkata, Mumbai, Delhi). Once we get past all the checkpoints, all we see is a lot of poverty. Rikshas on the road with Taxis. Stink from the sewage gutters. It's not fun.

I pray for the Indian people that some day they will be doing well. I read somewhere that about 10% of India's population is poor. Still, that is 131 million people, since India has 1315 million people. Learn a lesson from Europe and China. Don't have so many children, it's not worth it.

According to the IMF, World Bank and United Nations, India is already the third largest economy, second largest population, fourth most powerful country in the world. If India wants to be the largest country by population, economy and power then they have a lot of work to do. Otherwise, spend more time praying to god and prepare for the afterlife.

https://en.wikipedia.org/wiki/List_of_IMF_ran... (PPP)#Long_term_GDP_estimates


Fontana, CA

#19 Mar 1, 2016
Congratulations to ICICI Bank. Their stock is up around 10% finally. Maybe, they fixed the problems at their branch offices.

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