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ICICI Bank's USD to INR TT buying rate today is ₹95.05, and its TT selling rate is ₹98.08.

All rates on this page are taken from the Forex Card Rates sheet ICICI Bank published on 8 October 2026 at 09:11 AM, and are refreshed here twice a day.

ICICI Bank publishes a fresh rate sheet every forex working day and can revise it as the market moves. Money you receive from abroad is converted at its TT (telegraphic transfer) buying rate, and money you send abroad at its TT selling rate. Both sit on either side of the mid-market rate you see on Google, and the gap is ICICI Bank's margin. ICICI's card rates apply to forex transactions up to USD 25,000 or equivalent. Above that, ICICI asks you to contact your forex branch or RM for a preferential rate.

ICICI Bank's TT buying rate for USD is ₹95.05 today, against a mid-market rate of ₹96.71. The TT buying rate is the one that applies when money from abroad is credited to your ICICI Bank account, and it sits 1.72% below mid-market.

Rates from ICICI Bank's Forex Card Rates sheet, published 8 October 2026 at 09:11 AM. <a href="https://www.icici.bank.in/corporate/global-markets/forex/forex-card-rate">Source: ICICI Bank Forex Card Rates</a>

TT selling doesn't apply to money you receive; it's the rate for sending money abroad.

ICICI Bank's TT selling rate for USD is ₹98.08 today, 1.42% above the mid-market rate of ₹96.71. The TT selling rate applies when you send money abroad from your ICICI Bank account, such as an overseas supplier payment or tuition fee.

Rates from ICICI Bank's Forex Card Rates sheet, published 8 October 2026 at 09:11 AM. Outward remittance fees, TCS and GST are charged separately.

For example, paying a $1,000 invoice abroad costs ₹98,080 at ICICI Bank's TT selling rate, against ₹96,710 at the mid-market rate, so ₹1,370 goes to the spread before fees.

ICICI Bank's Forex Card Rates sheet lists a separate buying and selling rate for each type of transaction, including TT, bills and cards or cash. Currency-note rates carry the widest margins and card rates usually sit wider than TT rates too, so only the TT buying rate tells you what an inward wire will fetch.

All rates in ₹ per unit, from the sheet published 8 October 2026 at 09:11 AM. <a href="https://www.icici.bank.in/corporate/global-markets/forex/forex-card-rate">Download ICICI Bank's Forex Card Rates</a>

What Do TT Buying and TT Selling Rates Mean?

The TT buying rate is the rate at which a bank buys foreign currency from you and pays you rupees, used when you receive money from abroad. The TT selling rate is the rate at which the bank sells you foreign currency, used when you send money abroad. TT stands for telegraphic transfer, meaning an electronic wire between banks.

For example, if you received $1,000 at ICICI Bank today and sent the same $1,000 back out, you'd get ₹95,050 in and pay ₹98,080 out. That ₹3,030 difference is ICICI Bank's spread on the round trip.

What Are ICICI Bank Inward Remittance Charges?

ICICI Bank inward remittance charges are the fees and conversion costs taken when money sent from abroad is credited to your ICICI Bank account. An inward remittance is any payment that enters India from another country, and ICICI recovers its cost through an account-based handling fee, the exchange rate, certificates and GST.

For a freelancer, an inward remittance is a client invoice paid by SWIFT wire. For an exporter, it's the proceeds of a shipment or a service contract. For an NRI's family, it's money sent home. In each case, the amount your client sends and the amount ICICI credits are rarely the same.

Who pays which charge depends on the charge code your client picks on the SWIFT transfer:

Components of ICICI Bank Inward Remittance Charges

ICICI Bank inward remittance charges are made up of 5 components. ICICI sets its receiving fee by account type rather than publishing one rate; the markup and intermediary deductions are built into the amount you receive.

ICICI Bank Inward Remittance Charges at a Glance

ICICI Bank sets its inward remittance fee by account type, issues a BIRC for export proceeds, and charges 18% GST on the conversion. The biggest cost is the forex markup, 1.72% today, which is about ₹16,600 on a $10,000 payment.

Rates from ICICI Bank's Forex Card Rates sheet, published 8 October 2026 at 09:11 AM, refreshed twice a day. <a href="https://www.icici.bank.in/corporate/global-markets/forex/forex-card-rate">Source: ICICI Bank Forex Card Rates</a> · <a href="https://www.icici.bank.in/business-banking/trade-solutions/remittances">ICICI Bank trade remittances</a>

ICICI Bank Inward Remittance Charges Explained

Each of the 5 components works differently at ICICI Bank. The fixed fees depend on your account, while the markup moves with the market and applies to every payment.

ICICI Bank doesn't publish a single receiving fee for inward remittances on its public pages. The handling charge is set by your account variant and customer segment, so 2 ICICI customers can pay different fees on the same payment.

For example, if you receive 1 export payment a month, ask ICICI for its per-remittance fee and multiply by 12. That's your yearly fixed cost before the markup.

ICICI Bank Forex Markup on Inward Remittance

ICICI Bank converts inward remittances at its TT buying rate, which for USD is ₹95.05 today against a mid-market rate of ₹96.71. The gap of 1.72% is ICICI's forex markup, and it's the largest cost on most payments.

ICICI's card rates are indicative and change with market volatility. The rate applied is the card rate prevailing when your account is credited, and it's shown on your credit advice or BIRC. The sheet covers transactions up to USD 25,000; above that, ICICI asks you to contact your forex branch or RM for a preferential rate.

Today's TT buying rates for 10 currencies are in the ICICI Bank TT Buying Rate Today section above.

To see the rate ICICI actually applies, averaged from real customer FIRAs, check the <a href="https://www.skydo.com/compare/icici-bank-forex-rates">ICICI Bank forex rate today</a> tracker. <a href="https://www.icici.bank.in/corporate/global-markets/forex/forex-card-rate">Source: ICICI Bank Forex Card Rates</a>

For example, say your client pays $2,500. At the mid-market rate that's ₹2,41,775. At ICICI's TT buying rate it's ₹2,37,625, so ₹4,150 goes to the markup before any fee or GST.

Intermediary or SWIFT Charges on ICICI Bank Inward Remittance

Intermediary or SWIFT charges on an ICICI Bank inward remittance are deducted by correspondent banks abroad before the money reaches ICICI, typically $10 to $40 per payment. ICICI doesn't levy them, and whether you bear them depends on your client's charge code.

For example, a freelancer on 4 SHA payments a month losing $20 each gives up $80 a month, close to ₹7,604 at today's rate, before ICICI converts a single dollar.

ICICI Bank issues a Bank Inward Remittance Certificate (BIRC) for export proceeds and reserves the FIRC for foreign direct and portfolio investment. The certificate fee isn't published as a single rate, so it follows your account's schedule of charges.

For example, a freelancer with 3 clients paying monthly needs 36 certificates a year, so even a small per-certificate fee adds up across invoices.

ICICI Bank charges 18% GST in 2 places on an inward remittance: on any fee it levies, and on the currency conversion itself. ICICI publishes the Rule 32 slab it uses for the conversion GST, which never goes above ₹10,800.

For example, a $10,000 payment converted at ICICI's TT buying rate of ₹95.05 gives ₹9,50,500. The taxable value is ₹5,253 (₹1,000 + 0.5% of the amount above ₹1 lakh), so GST on the conversion is ₹945.

<a href="https://www.icici.bank.in/nri-banking/money-transfer/wire-transfer/service-tax-rules">Source: ICICI Bank GST rules on forex</a>

Why Is Skydo Better Than ICICI Bank for Receiving International Payments?

Skydo is better than ICICI Bank for receiving international payments because it converts at the mid-market rate with zero markup, charges 1 flat fee you know upfront, and issues a FIRA free with every payment. On a $10,000 payment, you keep at least ₹16,135 more than with an ICICI Bank wire.

<a href="https://www.skydo.com/receive-international-payments-in-india/freelancer">Source: Skydo pricing</a> · <a href="https://www.skydo.com/compare/icici-bank-forex-rates">ICICI Bank vs Skydo rate comparison</a>

If your current account and trade finance are with ICICI, you can keep it as your settlement account. Skydo pays INR into it, so your bank relationship stays where it is and only the conversion moves.

What is the ICICI Bank TT buying rate today?

ICICI Bank's TT buying rate for USD is ₹95.05 on the sheet published 8 October 2026 at 09:11 AM. It's the rate ICICI Bank uses when money from abroad is credited to your account.

What is the ICICI Bank TT selling rate today?

ICICI Bank's TT selling rate for USD is ₹98.08 on the sheet published 8 October 2026 at 09:11 AM. It's the rate ICICI Bank uses when you send money abroad.

Where can I find ICICI Bank's Forex Card Rates today?

ICICI Bank publishes its Forex Card Rates on its website every forex working day, with the date and time printed on the sheet. The rates are indicative, and the rate applied is the one prevailing when your account is debited or credited.

Which ICICI Bank rate applies when I receive money from abroad?

The TT buying rate applies when ICICI Bank converts money you receive from abroad into rupees. The TT selling, bill, card and cash rates on the same sheet are for other transaction types.

Why is ICICI Bank's rate different from the USD to INR rate on Google?

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Foreign exchange hedging is the practice of using financial instruments to lock in an exchange rate and reduce the risk of loss from currency movements between when a transaction is agreed and when it is settled. For Indian exporters and freelancers receiving payments in USD, EUR, or GBP, the risk lives in the gap between invoicing a foreign client and actually getting paid: the rupee value of money already earned can shift before it ever arrives in your account.

A concrete example makes this tangible. A Bengaluru IT consultant invoices a US client $5,000 in January at ₹84/USD, expecting ₹4,20,000. By February, when the payment arrives, INR has appreciated and the rate sits at ₹81/USD. The consultant receives ₹4,05,000 instead, a ₹15,000 loss with no change in the work done. A hedge placed in January would have locked in the original rate and protected that difference entirely.

A forex hedge is designed to protect from losses, not to generate profit. That distinction is foundational. When you sell goods or services overseas, your final INR receipt depends on two things: how much the client pays and where the exchange rate sits on settlement day. A hedge neutralizes the second variable by locking in a rate today through specific financial contracts, so currency fluctuations between the invoice date and the payment date do not affect your final payout.

Most hedges are partial, not total. Hedging every rupee of exposure carries costs that can outweigh the benefit, so exporters typically protect a portion of a transaction rather than the full amount.

To see the logic in practice: a company expecting USD proceeds from an overseas sale buys a currency option. If the dollar weakens, the option's profit offsets the loss on repatriation. If the dollar stays strong, the company is only out the option premium, and the underlying sale proceeds remain intact. The hedge does not change what your client pays you; it changes how much of that payment survives currency conversion on your end.

For a deeper look at the broader risk landscape, see the guide on understanding<a href="https://www.skydo.com/blog/foreign-exchange-risk"> foreign exchange risk</a>

Why Does Foreign Exchange Hedging Matter?

Foreign exchange hedging matters for Indian exporters because it makes future rupee income predictable. You know what you will receive before the payment actually lands, which changes how confidently you can plan everything downstream: payroll, vendor payments, tax obligations, and client pricing.

Four core reasons it matters for exporters:

For businesses and exporters specifically, the benefits extend to three practical areas:

If you are deciding how to structure your invoices in the first place, the guide on <a href="https://www.skydo.com/blog/should-i-invoice-in-inr-or-foreign-currency">whether to invoice in INR or foreign currency</a> is a useful next read.

What Are Some Popular Foreign Exchange Hedging Strategies?

The most widely used foreign exchange hedging strategies for exporters are forward contracts, currency options, currency futures, natural hedging, and currency swaps. Each suits a different transaction size, complexity level, and risk appetite, so the right choice depends on your specific situation rather than a single universal answer.

A forward contract is an agreement to exchange currency at a fixed rate on a specified future date. It locks in certainty with no upfront premium cost, which makes it straightforward to budget against. The trade-off is that you also give up any gain if rates move favorably before settlement. Forward contracts are best suited for predictable, scheduled export transactions with a confirmed invoice and due date.

A currency option gives you the right, but not the obligation, to buy or sell currency at a set rate before expiry. This limits your downside risk while keeping upside potential if the rate moves in your favor. The cost is a non-refundable upfront premium paid regardless of whether you exercise the option. Currency options are best suited for high-volatility environments or receivables where the payment date is uncertain.

Currency futures are standardized, exchange-traded contracts to exchange a fixed amount of currency on a future date. They offer high liquidity and regulated exchange protection, but require margin deposits and daily cash settlement through a mark-to-market process. They are best suited for standardized, liquid institutional trading pairs.

Natural hedging matches foreign-currency revenues with foreign-currency operational expenses so that currency movements offset each other internally. It costs nothing extra and requires no financial instruments at all. The limitation is that it is difficult to scale or perfectly balance, and it only works when you have meaningful foreign-currency expenditure. A good example is a Software as a Service (SaaS) startup that earns in USD while also paying USD-denominated vendors like AWS, so inflows and outflows naturally offset each other.

A currency swap involves exchanging principal and interest cash flows in different currencies with a counterparty over a defined period. It is ideal for long-term financing and aligning debt repayment with revenue currency. The structure is complex and carries counterparty credit risk, making it best suited for long-term cross-border debt management rather than typical small-exporter use cases.

Two concrete scenarios show how hedging strategies play out in practice for Indian businesses receiving international payments: one using a formal financial instrument, the other using an entirely operational approach.

Scenario 1: The Tech Agency and the Forward Lock

A Bengaluru-based software agency invoices a New York client $50,000 USD on net-30 payment terms. At invoicing, the rate is ₹84.00/USD, so the agency expects ₹42,00,000. Over the next 30 days, the dollar drops to ₹82.50/USD. Without protection, the agency receives ₹41,25,000, a ₹75,000 hit to the bottom line before any bank markup fees are factored in.

The hedge: the agency enters a forward contract with its authorized dealer bank locking in ₹84.00 for 30 days. Even when the market dips, they receive exactly ₹42,00,000, the amount budgeted for payroll and operations.

Scenario 2: The SaaS Startup and the Natural Hedge

An Indian SaaS startup earns revenue in USD but also spends $10,000 per month on global infrastructure, including AWS, OpenAI, and similar tools billed in USD. If the startup converts 100% of its USD earnings to INR immediately, it pays bank conversion fees on the way out. When tech bills arrive, it buys USD back with rupees and pays conversion costs a second time.

The natural hedge: the startup keeps a portion of incoming USD in a virtual USD account and pays global vendors directly in dollars. The double-conversion leakage is eliminated entirely, with no financial instrument required.

How Does Skydo Help Indian Exporters Reduce Currency Uncertainty?

Even with the right hedging strategy in place, two variables continue to erode INR value for Indian exporters: the unpredictability of when a payment actually arrives, and the fee drag that eats into proceeds after it does. Skydo addresses both directly.

Predictable settlement timelines: Skydo guarantees settlement within 1 working day, narrowing the window between invoice and receipt. A shorter exposure window means less time for rates to move against you before funds land.

Transparent, flat-fee pricing: Banks and PayPal charge up to 8% in hidden fees and conversion spreads. Skydo charges a flat fee structured as follows: under $2,000 costs $19 flat; $2,000 to $10,000 costs $29 flat; over $10,000 costs 0.3%. For many small exporters and freelancers, eliminating this fee drag saves more in real terms than the theoretical gain from a formal hedging instrument.

Free virtual accounts in six currencies: Skydo provides free virtual accounts in USD, EUR, GBP, SGD, AUD, and CAD. You can receive payments in the invoice currency and choose when to convert, a simple form of timing control that complements or replaces more complex hedging for smaller transactions.

Free Foreign Inward Remittance Advice (FIRA) certificates: Every Skydo transaction comes with a FIRA certificate at no extra cost, the documentation you need to prove receipt of foreign funds, required for compliance and eBRC closure.

eBRC and EDPMS closure support: Skydo offers eBRC closure assistance. You link your Directorate General of Foreign Trade (DGFT) account once, bulk-upload shipping bills, and auto-map Inward Remittance Messages (IRMs) to generate eBRC in a click. EDPMS closure assistance is also available, removing the manual follow-up burden that traditional bank processes require.

Quick setup, no monthly fees: Account setup takes 10 to 15 minutes. You pay only when you transact, with no monthly fees, no relationship manager calls, and no SWIFT copy chasing.&nbsp;

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What Is Foreign Exchange Risk Management?

Foreign exchange (FX) risk management is the process of identifying, measuring, and reducing potential losses that arise when exchange rates move unfavorably between the time a payment is agreed upon and when it's actually received or made.

For Indian freelancers and service exporters, the use case is practical. Every USD, GBP, or EUR invoice you raise carries <a href="https://www.skydo.com/blog/foreign-exchange-risk">foreign exchange risk</a>: the risk that the rupee value of that payment will shrink by the time it lands in your account. FX risk management is how you protect against that shrinkage.

Here's what that looks like. A Bengaluru-based UX designer invoices a US client $2,000 when the rate is ₹84/USD, expecting ₹1,68,000. By the time the client pays, the rate has shifted to ₹82/USD.

She receives ₹1,64,000. That's ₹4,000 lost purely to rate movement, before any bank fees are even counted.

What Are the Three Types of Foreign Exchange Risk?

The three types of foreign exchange risk are transaction risk, translation risk, and economic risk. Transaction risk affects actual payments and receipts, translation risk affects financial reporting and balance sheets, and economic risk affects competitiveness and market strategy over time.

Each affects your finances differently. Transaction risk is the most immediate and the most relevant for Indian freelancers and exporters, because it directly hits the real cash you receive on every payment.

Transaction risk arises when the <a href="https://www.skydo.com/blog/how-to-choose-the-right-currency-exchange-rate-for-invoicing">exchange rate</a> changes between the time an invoice is raised and the time payment is received.

Say you invoice a client $1,000 at ₹84/USD and expect ₹84,000. The rate drops to ₹82/USD before payment, so you receive ₹82,000. That's ₹2,000 lost to rate movement alone.

This is the most critical type for freelancers and small exporters. It affects your actual earnings, and it can reduce profit margins or disrupt cash flow on every single overseas payment.

SWIFT deductions and bank conversion spreads compound this loss. A Bengaluru UX designer receiving $2,000 via SWIFT can lose ₹4,000 to ₹6,000 from combined rate movement and fee deductions.

Translation risk is an on-paper risk. It affects how a company's finances appear when foreign-currency accounts are consolidated into Indian rupees (INR) for reporting purposes.

It doesn't affect actual cash flow, but it can make profits or assets look smaller in financial statements. Take an Indian SaaS company with a Singapore branch that converts SGD earnings to INR for reporting. If SGD weakens, total reported revenue shrinks in rupees, even if the Singapore operations performed well.

Translation risk is most relevant to businesses with overseas subsidiaries. It isn't relevant to solo freelancers or small exporters.

Economic risk is a long-term risk. Sustained currency movements affect a business's overall competitiveness, pricing power, and ability to win international clients. Its source is changes in the competitive strength of exports and imports driven by exchange rate shifts.

For example, if the rupee strengthens significantly over 12 months, an Indian service exporter's USD-priced services become more expensive relative to competitors in other countries, and the exporter could lose clients.

What Are the Techniques for Foreign Exchange Risk Management?

Foreign exchange risk management techniques fall into two categories. Internal (operational) techniques need no financial instruments and include natural hedging, netting, leading and lagging, invoicing in home currency, and matching.

External (financial) techniques use derivative contracts or money market instruments. They include forward contracts, currency options, money market hedges, currency swaps, and currency futures.

Why Is Foreign Exchange Risk Management Important?

Foreign exchange risk management is important because unmanaged currency swings can silently destroy profit margins, destabilize cash flows, and make financial planning impossible for any business that <a href="https://www.skydo.com/blog/foreign-remittance-limit">receives or pays in foreign currency</a>.

Managing FX risk protects your margins, stabilizes cash flow, improves forecasting, maintains your competitiveness, and reduces cash flow volatility.

Foreign Exchange Risk Management vs Foreign Exchange Risk Hedging: Key Differences

Foreign exchange risk management is the broad strategic framework an organization uses to identify, measure, and monitor all of its currency exposures. Foreign exchange risk hedging is a tactical subset of it, focused specifically on deploying financial or operational instruments to neutralize the exposures that risk management has identified.

If you're an Indian freelancer or small exporter with no treasury team, choosing a payment platform with flat, transparent fees and fast settlement is your form of FX risk management. A forward contract, if it's available through your bank, is the hedging tool you might layer on top for <a href="https://www.skydo.com/blog/complete-guide-to-bill-of-exchange">large invoices</a>.

How Does Skydo Help Indian Exporters Manage Foreign Exchange Risk?

Rate movement isn't the only thing shrinking your international payments. On every payment, hidden charges from bank conversion spreads, intermediary deductions, and SWIFT fees compound on top of market-rate movement.

<a href="https://www.skydo.com/">Skydo</a> helps Indian freelancers and service exporters manage foreign exchange risk by eliminating that fee-layer loss.