Dusk before the evening Ganga Aarti at Dashashwamedh Ghat, Varanasi, with umbrella canopies and saffron flags above the platforms and boats on the river behind.

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Currency exchange in Varanasi: where to change money, ATMs, rulesवाराणसी में मनी एक्सचेंज: विदेशी मुद्रा कहाँ बदलें, एटीएम और नियम

By Kashidwar · Updated 4 November 2026

Who may exchangeBanks and RBI-authorised money changers only
In the cityThomas Cook, Nadesar (Cantonment) · Unimoni
KeepEncashment certificate or ATM slips, to change rupees back
Declare on arrivalCash over US$5,000, or over US$10,000 in all
Ghats and lanesCash and UPI; cards mostly in hotels and big shops
Flying abroadForeign cash up to US$3,000 per trip; the rest on a card

Changing money in Varanasi is easy if you use the right counter. Only banks and RBI-authorised money changers may exchange foreign currency, and they give you a receipt that you need to change unspent rupees back when you leave. ATMs are everywhere in the city, but the ghats and the old lanes run on cash and UPI. Here is where to exchange, what the RBI rules say, and how to buy forex if you are flying abroad from Varanasi.

Where to exchange money in Varanasi

Under India's foreign exchange law, only authorised persons may buy or sell foreign currency: banks that are authorised dealers, AD Category II firms and full-fledged money changers licensed by the RBI. They issue a receipt, called an encashment certificate, when you ask for one. Ask for it every time, because it is what lets you change unspent rupees back before you leave.

Thomas Cook Forex, Nadesar: opened December 2025 at S20/52/4A/1, Nepali Kothi, near Surya Hotel, Cantonment, Varanasi 221002 · +91 99569 90301 · FX.Varanasi@thomascook.in. Exchanges 26 currencies and sells prepaid travel cards.
Unimoni (an AD Category II firm): has a Varanasi branch; find it with Unimoni's branch locator or on 1800 102 0555. Foreign nationals need their passport to sell currency.
Banks: large branches of the main banks deal in foreign exchange; call the branch first, as not every branch handles foreign cash.
Always: count the rupees at the counter, check the rate on the receipt, and keep the receipt.

Hotel desks and shops around Godowlia and Assi often offer to change dollars or euros. Some are agents of licensed firms and some are not; ask to see the RBI licence and get a receipt, or walk to an authorised counter instead.

Sources: [1] · [2] · [4] · [5]

Money exchange at Varanasi airport

Not officially confirmed — check before you travel

Exchange counters at Varanasi airport have been reported, but the Airports Authority of India's current list of conveniences there shows only two convenience stores, and we could not confirm a working forex counter or its hours. Do not count on changing money on arrival: bring enough rupees or a card that works in Indian ATMs for the taxi into town (₹600–1,000 to Godowlia), and exchange in the city.

Sources: [9]

ATMs, cards and UPI in Varanasi

ATMs of SBI, HDFC, ICICI, PNB, Bank of Baroda and other banks are easy to find on the main roads: Cantonment, Sigra, Lanka, Godowlia and near the stations. Foreign Visa and Mastercard cards usually work. Many machines give at most ₹10,000 per withdrawal, and Indian banks often add a fee of about ₹200–250 on top of your own bank's charges. When the machine offers to charge you in your home currency, choose rupees: the conversion it offers is usually worse.

ATM withdrawals: often ₹10,000 per transaction, some machines more; fees vary by bank (approximate)
Pick rupees, not your home currency, when the ATM or card machine asks
Boats, tea, flowers, rickshaws: cash or UPI
Keep ATM slips if you are a foreign tourist: they let you change up to ₹50,000 back on departure

Hotels, larger restaurants and shops in Godowlia, Sigra and Lanka take cards. On the ghats, for boats, tea, flowers and street food, you pay in cash or by UPI (a QR code scanned with a phone). Carry ₹10, ₹20 and ₹50 notes: small sellers often cannot change ₹500.

Sources: [10] · [11] · [2]

UPI for foreign visitors

UPI is how most of Varanasi pays, and foreign visitors can now use it without an Indian bank account through UPI One World, a prepaid UPI wallet from NPCI. You open it with your passport and a valid visa through an authorised issuer, load it with your international card, and pay by scanning any UPI QR code. NPCI lists no transaction or onboarding fee, and unused balance can go back to your card under the exchange rules. Issuers include Pine Labs, Transcorp and Tri O Tech; it was offered at Delhi airport in February 2026, but we found no counter in Varanasi, so set it up through an issuer's app before you arrive.

Sources: [6] · [7] · [8]

RBI rules for foreign visitors: declaring cash and changing rupees back

There is no limit on the foreign currency you can bring into India, but you must declare it to customs on arrival, on the Currency Declaration Form, if your foreign cash is over US$5,000 or your cash and travellers' cheques together are over US$10,000. Keep the form if you do not spend it all.

Foreign cash over US$5,000, or over US$10,000 including travellers' cheques: declare on arrival
Indian rupee notes: visitors may bring in up to ₹25,000, entering through an airport
Changing back: encashment certificate, or up to ₹10,000 without one (leaving within 7 days), or up to ₹50,000 against ATM slips (foreign tourists)

When you leave, an authorised money changer can turn unspent rupees back into foreign currency if you show the encashment certificate from your exchange. Without one, it may change up to ₹10,000 at its discretion if you leave within seven days. Foreign tourists (not NRIs) can also change back up to ₹50,000 against original ATM slips, with a passport, visa and a ticket for departure within seven days.

Sources: [1] · [2] · [3]

Coming from Nepal

Many visitors reach Varanasi by road from Nepal. Since the RBI's November 2025 change, a traveller (not a citizen of Pakistan or Bangladesh) coming from Nepal or Bhutan may carry Indian notes of ₹100 and below freely, and higher notes such as ₹200 and ₹500 up to ₹25,000 in total.

Sources: [1]

Flying abroad from Varanasi: buying foreign currency

Varanasi has direct flights to Bangkok, Sharjah and Kathmandu, and many students and families fly abroad from here. Buy foreign currency only from an authorised person: a bank, an AD Category II firm or a licensed money changer such as the Nadesar outlet above. You can take up to US$3,000 per trip in foreign notes and coins for most countries; carry the rest on a prepaid forex card or a credit or debit card.

Foreign cash: up to US$3,000 per trip (most countries)
Paying for forex in cash: below ₹50,000
Back home: surrender unspent notes within 180 days; you may keep up to US$2,000
Compare: cash rate vs a prepaid forex card vs a card with no forex markup

You can pay in cash for forex worth less than ₹50,000; above that, pay by card, cheque or bank transfer. When you are back, surrender unspent foreign notes within 180 days, though you may keep up to US$2,000 for future trips. Card spending abroad usually carries a foreign exchange markup of a few percent; some cards charge no markup, which can cost less than buying cash.

Sources: [1] · [4] · [12]

Frequently asked questions

Where can I exchange money in Varanasi?

At banks and RBI-authorised money changers. Thomas Cook opened a forex outlet in Nadesar (Nepali Kothi, near Surya Hotel, Cantonment) in December 2025, and Unimoni has a Varanasi branch. Ask for an encashment certificate with every exchange.

Is there money exchange at Varanasi airport?

Counters have been reported, but the airport authority's current list shows none and we could not confirm one. Arrive with some rupees or a card that works in ATMs, and exchange in the city.

Do foreign cards work in Varanasi ATMs?

Usually yes: Visa and Mastercard work in most bank ATMs on the main roads. Expect a cap of about ₹10,000 per withdrawal and a fee, and choose to be charged in rupees.

Can foreigners use UPI in Varanasi?

Yes, through UPI One World, NPCI's prepaid UPI wallet for foreign nationals, opened with a passport and visa and loaded with an international card. Set it up through an issuer's app before arriving.

How much foreign currency can I bring into India without declaring it?

Up to US$5,000 in foreign cash, and up to US$10,000 in cash and travellers' cheques together. Above either, declare it to customs on arrival on the Currency Declaration Form.

How much foreign cash can I carry when travelling abroad from India?

Up to US$3,000 per trip in foreign notes and coins for most countries; the rest on a forex card, travellers' cheques or a bank draft.