Finding foreign exchange and currency services in a smaller city like Khargone can be a bit more strategic than in a major metro. There are no standalone “24/7 International Forex Bureaus” on every corner, so you will primarily rely on Nationalized Banks and Authorized Money Transfer Agents.
Here is the definitive guide to handling currency in Khargone.
1. Banking Institutions (Best for Large Exchanges)
Most major public and private sector banks in Khargone offer Foreign Exchange services, though they may require you to have an account or provide extensive KYC (Passport, Visa, and Flight tickets).
- State Bank of India (SBI) – Specialised Branch:
- Location: 1st Floor, 14, Ravindra Nagar, Khargone.
- Contact: 07282-233388 / 231206.
- Service: This is the most reliable point for International Banking and Forex in the district.
- Bank of Baroda: Diversion Road, Vallabh Nagar Colony.
- Union Bank of India: Jawahar Nagar (near Kasturi Hotel).
- HDFC Bank: Radha Vallabh Market area.
Pro Tip: Visit banks between 11:00 AM and 2:00 PM on weekdays. Banks often have a specific “Forex Officer” who may not be available during early or late hours.
2. Money Transfer & Small Currency Exchange
For smaller amounts or quick cash pickups (Western Union/MoneyGram), these authorized agents are faster and more accessible than banks:
- MoneyGram Authorized Centers:
- Location 1: 1st Floor, 10-C, Jawahar Nagar, Gajanan Soni Marg.
- Location 2: Khandwa Road, near Bawarikheda.
- Western Union / Muthoot Finance: * Many branches of Muthoot Fincorp and Manappuram Finance in Khargone act as sub-agents for Western Union. Check the branches near the Bus Stand or Radha Vallabh Market.
- Patidar Shop (Money Transfer): Sanawad Road, Premnagar.
3. Digital & ATM Alternatives (Recommended)
Because physical currency exchange shops are limited, tourists often find these methods more efficient:
- International ATMs: ATMs from SBI, HDFC, and ICICI in Khargone generally accept international Visa/Mastercard.
- Note: Ensure your home bank has “International Usage” enabled.
- Forex Cards: If you are coming from Indore or another major city, load a Forex Card (like Niyo Global or BookMyForex). These work seamlessly at most local merchant outlets and ATMs in Khargone.
4. Checklist for Foreign Tourists
To ensure a smooth transaction, always carry the following:
- Original Passport (Crucial).
- Valid Indian Visa (Physical copy or e-visa printout).
- Passport-size photographs (Sometimes required by banks).
- Proof of Address (Your hotel stay receipt in Khargone is usually sufficient).
Important Warnings
- No Airport Exchange: Unlike Indore, there is no airport exchange in Khargone. Do not wait until you arrive in the city if you have zero Indian Rupees.
- Avoid Local “Jewelers” for Forex: While some local shops might offer to “help” with exchange, it is illegal and often provides poor rates. Stick to RBI-authorized banks or agents listed above.
- Sunday Closures: Almost all forex-providing institutions are closed on Sundays and the 2nd/4th Saturdays of the month.
