Ari's Planet

I happened to stop by a bank today and they had their exchange rates for USD to INR posted. For comparison, here are rates at a small foreign exchange shop (also Internet shop) in Jodhpur as well as the rates on x-rates.com.

Place/Buy/Sell
Bank/39.35/40.25
Forex/38.00/??
x-rates.com 39.35

The forex shop claims "no commission". It looks like you are a lot better off going to a bank to change dollars. I use an ATM and get a decent rate, though my bank charges a hefty "international atm" fee.