While Shivpuri is a beautiful destination famous for Madhav National Park, it is a smaller city compared to hubs like Gwalior or Bhopal. Consequently, dedicated “Forex Booths” are rare. However, you can still exchange currency and manage your finances through the following reliable channels.
1. Nationalized & Private Banks
Banks are your safest bet for official currency exchange. State Bank of India (SBI) is the primary provider here.
- State Bank of India (Main Branch): * Location: Madhav Chowk, Shivpuri.
- Services: Offers official foreign currency exchange (primarily USD, EUR, GBP).
- Note: You must carry your original Passport and a valid Visa. Processing can take some time, so visit during morning hours (10:00 AM – 1:00 PM).
- Other Banks: * Bandhan Bank: Located on Rajeshwari Road.
- HDFC & Axis Bank: Both have branches in the city center and can facilitate forex for their account holders or through specialized travel cards.
2. International Money Transfer Agents
If you need to receive money from abroad or find a authorized dealer for smaller transactions, these agencies are active in Shivpuri:
- Muthoot Finance: Known for Western Union and MoneyGram services. They often handle currency exchange or can direct you to their nearest forex-authorized branch.+1
- Western Union / MoneyGram: Available at various local “Jan Sewa Kendras” or specialized agents like Aditya Investors (located near Old Nagar Palika Chouraha).
3. Digital & Modern Alternatives
Given that local cash exchange can be cumbersome, many modern travelers use these “hack” methods:
- ATM Withdrawals: This is often the most efficient way. Use your international debit card (Visa/Mastercard) at ATMs like SBI, HDFC, or ICICI. They will dispense Indian Rupees (INR) at the daily bank rate plus a small transaction fee.
- Forex Cards: If you have a Niyo, Thomas Cook, or BookMyForex card, you can use them at most major hotels and high-end shops in Shivpuri.
- UPI for International Travelers: Some apps now allow foreign nationals to use UPI (India’s instant payment system) by linking it to a prepaid wallet. This is highly recommended for small payments at local shops.
Vital Tips for Visitors
- Keep the Encashment Certificate: Always ask for a “Foreign Currency Encashment Certificate” when you exchange cash. You will need this to convert any leftover INR back to your home currency when leaving India.
- Avoid Local “Jewelers” for Exchange: While some local shops might offer to exchange money, it is often unofficial and could involve counterfeit notes or poor rates. Stick to RBI-authorized banks or agents.
- Carry Cash to Madhav National Park: Once you leave the city center for the National Park or nearby excursions, digital payments may be spotty. Ensure you have enough INR in small denominations.
