Citibank Forex & Exchange Rate Today: TT Buying, TT Selling & Charges

Citibank's USD to INR rate today is ₹93.69 for money coming in.

Citibank (Citi Bank) publishes these itself.

Every rate below comes from the sheet Citibank published on 20 August 2026 at 9:05 AM, refreshed here twice a day.

Citi Bank publishes a new rate sheet every working day and revises it as the market moves. Money arriving from abroad is converted at its TT (telegraphic transfer) buying rate, which sits below the mid-market rate. That gap is the markup, and it is separate from GST on the conversion.

Citibank's USD TT buying rate today is ₹93.69. If money is coming in to you, that is the rate that applies.

This sheet covers as published. For larger transfers, contact your relationship manager.

Source: Citi India Daily FX Rate Sheet (PDF), published by Citibank itself. Rates are indicative and subject to change with market movements. The rate that applies is the one prevailing when your account is credited.

Which rate applies depends on what you are doing, not on which one you saw first.

Citibank publishes its own "Daily FX Rate Sheet", and that document is the authority on the rate you will be given, not any figure quoted elsewhere. It is a PDF you can download and keep.

Open it here: Citi India Daily FX Rate Sheet. The bank replaces it each working day, so the link always resolves to the current sheet, and the copy the figures above come from was published on 20 August 2026 at 9:05 AM.

Check the date printed inside the file before you use it. A saved copy keeps its old numbers, and a bank sheet from last week is a different rate, not a rounding difference.

Citi announced the sale of its India consumer business in 2022, and Axis Bank completed the acquisition on 1 March 2023. The deal covered credit cards, retail banking, wealth management, and consumer loans.

If you held a Citibank savings account, credit card, or forex service in India, that relationship has moved to Axis Bank. For inward remittances, you would now use your Axis account details or another provider.

If you are comparing where to route future transfers, our breakdown of icici bank forex rates is a useful benchmark alongside Axis.

Citibank continues to serve corporate and institutional clients in India, and its retail forex services, wire transfers, and foreign currency products remain available in other countries. The rest of this guide reflects that reality.

Citibank's TT buying rate for USD is ₹93.69, also written as TTBR, short for TT buying rate.

• Mid-market reference: ₹95.75
• Citibank TT buying: ₹93.69
• Gap: 2.15%, about ₹20,626 on a USD 10,000 invoice

Citibank's TT selling rate for USD is ₹97.54. This is what you pay when the bank sells you foreign currency, so it applies to money going out, not to export earnings coming in.

The gap between the two TT rates is ₹3.85 per dollar, or 4.1% of the buying rate. That spread is what the bank keeps.

Where Citibank still offers retail forex, such as in the United States, the fees below are typical (as of July 2026). They give a sense of the cost structure at a large global bank.

The pattern is familiar. The visible wire fee is only part of the cost, and the markup buried in the exchange rate does the rest, especially on smaller or exotic-currency conversions.

Verify the current schedule on Citibank's own site for your country before you rely on a figure, since fees differ by market and account tier.

When an inward remittance is converted to rupees in India, the conversion attracts 18% GST. It is charged on a "value of supply" the RBI defines in slabs (in force since 1 July 2017), not on your full transfer amount, so it stays modest even on large sums.

The takeaway is simple. GST is a known, capped, and comparatively small cost. The exchange-rate margin is the variable you can actually influence.

The rate is only part of the bill. If money comes in from abroad every month, four other things cost you money or time. None of them are on Citibank's rate sheet.

To be fair: this does not beat your bank at everything. If your current account, overdraft and trade limits are all with Citi Bank, keeping everything in one place may matter more than any row above. This adds up when money comes in from abroad a few times a month, every month.

Say a client sends you USD 10,000 for a completed project. On the sheet Citibank published on 20 August 2026 at 9:05 AM, its TT buying rate was ₹93.69. The mid-market reference that day was ₹95.75.

• At the mid-market rate: 10,000 × 95.75 = ₹9,57,500
• At Citibank's TT buying rate: 10,000 × 93.69 = ₹9,36,874
• Difference from the rate margin alone: ₹20,626, before GST and any certificate fee.

That ₹20,626 is the spread, not a fee you agreed to, and it recurs on every transfer settled at card rates.

One note on the reference: it is a daily rate, so the exact gap on your own transfer is the one on your credit advice.

A platform fee works differently. On the same invoice, Xflow's Growth plan charges 0.4% of the transfer value, about $40, with no markup on the mid-market rate, so the cost sits in a visible fee instead of inside the rate. Both that fee and the bank figures above are before GST, which applies either way.

A "forex rate" is the price of one currency in another at a given moment. Banks quote it against the interbank rate, the wholesale price at which large institutions trade, then add a margin before passing it to you.

Citibank publishes different rates for wires, cards, and cash, because each carries a different margin. If you want the plain-English version of how these numbers are built, start with forex rates.

The rate that actually applies is the one prevailing when your transaction processes, not the figure quoted earlier in the day, so timing shifts the outcome.

TT stands for telegraphic transfer, the electronic movement of money between banks across borders. Two rates matter most when you receive money.

• TT buying rate: the rate at which the receiving bank buys foreign currency from you and pays out local currency. This applies when you receive an inward remittance.
• Card rate: used for forex cards and cash, and it carries a wider margin than the TT rate.

For anyone receiving export income in India, the TT buying rate at the receiving bank is the number that decides the payout. A telegraphic transfer is the default rail behind most bank-to-bank inward payments.

Search "USD to INR" and you see the mid-market rate, the midpoint between global buy and sell prices. No bank pays it out in full. The difference comes from three layers.

The markup (spread): Citibank adds a margin to the mid-market rate on any conversion, and the size varies by currency. This is the foreign exchange markup, included silently inside the quoted rate.

Correspondent deductions: an inward wire can pass through an intermediary bank that takes its own cut before the money reaches the receiving bank in India.

Market volatility: the rate moves through the day, and your transfer settles at the prevailing rate, not the one you first saw.

The cleanest way to judge any quote is to compare it against the live mid-market rate on the same day.

Xflow is a cross-border payments platform built for Indian businesses and freelancers receiving money from abroad. The core difference is the reference rate.

A bank marks up a hidden interbank rate and adds wire fees. Xflow converts at the live mid-market rate and charges a transparent, visible fee, so you can see exactly what conversion costs. Its published pricing, as of July 2026, is below.

You keep close to the mid-market payout, minus a fee you can see, instead of losing the spread you never agreed to on a bank wire, and the gap widens as volumes rise. Settlement is next business day (T+1), and each payment comes with an auto-issued eFIRA.

A few honest caveats belong here. If you value a single global banking relationship and already hold accounts and facilities with a major bank, that convenience can matter more than a few paise on rate.

For one-off or very small transfers, a flat fee can outweigh the rate saving. Run your own numbers on a typical invoice first, and read how to reduce international payment fees to see where the real leakage sits. For regular mid-to-large export receipts, the platform is used for cross-border payments for service exporters.

This is the fear that stops most exporters from switching, and it is worth addressing head-on. Receiving through a regulated platform does not break your regulatory trail.

Xflow holds final RBI Payment Aggregator – Cross Border (PA-CB) authorisation for both exports and imports (as of February 2026), works with AD-1 banks, and auto-issues an eFIRA for each payment.

Your purpose codes, GST refund workflow, and downstream reporting continue as before, and the bank FIRC route remains available. Compliance stays intact; the paperwork simply becomes less manual.

Citibank publishes its rate sheet every working day and revises it intraday. On 20 August 2026 its USD TT buying rate was ₹93.69, about 2.15% below a daily mid-market reference rate of ₹95.75.

If you receive export income, the TT buying rate is the one that applies to you. Check it on the sheet, then check your Foreign Inward Remittance Advice (FIRA) to see what rate actually applied.