Foreign shares wire transfer: USD or INR ?

[dhawani]

1. Always choose to send in USD as conversion charges in ETrade are higher.
2. All government Banks give you better forex rates when compared to private. All banks publish this data on their websites, you can cross verify this.
3. To get even more better rates , you can try fxretail. FxRetail is for individuals too and you get best rates and full transperency in rates. Initial setup time is higher.
4. If you want to save $25 for wire, you can first DTC your shares to IBKR n sell from there.

 

[Dragon_slayer]

Fx Retail is good. It would offer you really great price, to process to use it is quite cumbersome, you need your banks help in this, and most of the time they wont be interested in helping since they know they wont get any commissions

 

[_amit_]

This is most efficient way. Get used and hdfc/icici provide good USD to INR conversion rates.

Depends if your company has tie up
Hdfc only charges 7 paise for each dollar conversion. Not sure if sbi gives better.

HDFC is unlikely to come close to IOB rates.
They can match IOB rate though depending on negotiation and relationship.
If they are able to give better than IOB rate, my congrats to the person receiving it and would ask to share more details too.

I have only come close to instances where IDFC was offering someone good rates based on the fact that he was receiving it monthly so a recurring transaction not a one time.

Skydo usually is better in such instances. But I have never used services , just that it has been offering market rates for now and flat fees.

 

[Ironman95]

usd.. if u chose inr then the exchange is higher.. let them. transfer in usd and you negotiate the inr rate with hdfc

How do we negotiate the rate? Do we do this before doing the transfer?