I use BookMyForex fund transfer services for my US university tuition and living expenses from India because they offer the best exchange rates.
Your Location: Delhi 
Upto ₹15,000 Cashback on Education Transfers 
Sending Currency
Indian Rupee
INR
Since you're sending from India, this currency is fixed to INR for your transfer.
Recipient Currency
US Dollar
USD
USD AMOUNTLive Rate ₹95.7707
INR AMOUNT
Remittance orders are usually processed within 48 working hours of placing the order
Send money abroad at live exchange rates with transparent charges
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Send Money to Latvia
Transfer money from India to Latvia 24x7 at the lowest guaranteed rates. Enjoy secure, same-day international cash transfers through our trusted partner banks and unlock savings of up to 5% on every foreign money transfer.
Secure International Cash Transfer to Latvia (Guaranteed Lowest Rates)
Check out today's money transfer live rates:
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- Fast. Online. Secure. Same-day transfers via trusted banks.
- Lowest Guaranteed Rates Zero hidden charges.
- Remittance Expert by Your Side Expert guidance from planning to payment.
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Remit Money from India to Latvia with BookMyForex
Latvia hosts close to 4,800 overseas Indians, almost all concentrated in Riga. The community is small but has grown quickly over the past decade, driven largely by students choosing Latvian universities.
Latvia has become a popular choice for Indian students seeking affordable, English-taught degrees inside the European Union, and India is now among the largest sources of international students in the country. Riga Technical University and Riga Stradins University host the biggest share, and a growing number of graduates stay on to work in IT, logistics and services.
This student base makes sending money to Latvia a regular requirement. Tuition instalments, rental deposits and living costs all involve transfers in euros, and the first payments usually need to clear before enrolment deadlines.
Even small differences in exchange rates or fees affect the final amount received. BookMyForex helps you send money to Latvia with better rates, faster processing, and complete transparency at every step.
Why Trust Us
BookMyForex - India’s Leading Forex Marketplace
Buy & sell forex online - order foreign currency notes, get forex cards, and send money abroad. Same-day doorstep delivery available in 65+ cities across India. Grab up to ₹7,500 cashback on forex card/currency notes and up to ₹15,000 on education related international money transfers!
$1.7 Billion+ exchanged
6.5 Lakh+ customers
5,000+ banks & money changers partnered
How to Send Money Abroad from India to Latvia
BookMyForex makes it incredibly simple to send money internationally from India. Whether you're supporting family overseas, paying university fees, or sending money abroad for any other purpose, just follow these 4 steps:
- Enter Amount & CurrencyInstantly view live rates, applicable fees, and how much your recipient will receive
- Upload DocumentsA quick, fully online process, no branch visits, no physical paperwork
- Add Recipient DetailProvide the beneficiary's bank account number and bank’s SWIFT/BIC code
- Make PaymentPay via UPI or net banking. Education transfers same-day; all others within 12-48 hours
Best Way to Send Money Internationally? BookMyForex! Faster, Cheaper, Simpler
- Best Rates, GuaranteedInterbank-linked rates, zero hidden charges, Lowest Rate Guarantee*
- 24x7 Online BookingSend money easily 24x7 via our website or app
- Quick Transfer Funds received abroad in as little as 6 hours
- Send Money WorldwideRemit funds to over 150 countries
- Rate Lock-In FeatureLock in desired rates for up to 3 days
- On-Call & Online SupportAssistance available via phone and chat
Safety First: How BookMyForex Protects Your Money
- Trusted Banking PartnersExclusive tie-ups with top banks in India like RBL and Instarem
- Advanced-Data EncryptionBank grade encryption to protect your data
- Secure Payment GatewaysSecure payment acceptance and routing via reputed payment gateways
BookMyForex International Money Transfer Statistics
Recent activity
- GBP 20,600 sent to United Kingdom (UK) from Delhi for family maintenance
- USD 1,500 sent to United States of America (USA) from Delhi for family maintenance
- AED 15,500 sent to United Arab Emirates from Delhi for a personal transfer
- GBP ▼ weakened by 0.0395% against Indian Rupee (vs yesterday, 21 Oct 2026)
- AED ▼ weakened by 0.5% against Indian Rupee (vs last week, 15–21 Oct 2026)
Source: Indicative transaction trends
Popular Destinations for Money Transfer to Latvia
Indian remittances to Latvia are heavily concentrated in Riga. The capital receives the highest volume by a wide margin, home to the main universities, most international employers, the country's largest port and nearly the entire resident Indian community.
Jelgava attracts transfers tied to the Latvia University of Life Sciences and Technologies, while Liepaja and Ventspils receive funds linked to their ports and regional universities. Daugavpils, Valmiera and Rezekne record smaller volumes connected to local universities and manufacturing, and rural regions account for very little.
Purposes for Which You Can Transfer Money from India to Latvia
As per RBI's Liberalised Remittance Scheme (LRS) Indian residents can send up to USD 2,50,000 per financial year for a wide range of purposes. Here are the key purposes allowed:
- Payments to any Individual Living Abroad
- University Fee Payments
- Investment in Foreign Stocks and Equities
- Funds Transfer for Emigration and Foreign Employment
- Medical Treatment Abroad
- Gifts and Donations Abroad
Best Way to Send Money from India to Latvia
Wire transfers are the easiest and most affordable option to send money from India to over 150 countries. Enjoy the speed and convenience of sending money overseas directly from your Indian bank account to the recipient's account. Read more to discover everything about wire transfers .
Top Countries for Sending Money Internationally with BookMyForex
Comparison: BookMyForex vs. Other Ways to Send Money from India to Latvia
Feature
Exchange Rates
Fees & Charges
Transfer Speed
Countries Supported
Rate Lock-In
Availability
Money Transfer via BookMyForex
Interbank-linked best rates; save up to 5%
Just ₹320 + GST bank fee and ₹1,180 Nostro charges, with no hidden charges
Same-day (education, as fast as 6 hrs); 12-48 hrs
150+ countries worldwide
Lock in rates for up to 3 days
24/7 online booking via website & app
Online Remittance Providers
High markups (up to 5%), limited transparency
Variable transfer fees based on the amount and currency, going up to ₹7,500 per transaction
3-7 working days (minutes for cash pickup in some corridors)
Limited to select corridors
Not as flexible
Subject to banking hours, currency and payment method.
Bank Wire Transfer
2-4% markup over base rate
₹1,500–₹2,000 Bank Fee + GST + Additional Nostro Charges depending upon currency
3-5 working days
Most countries via SWIFT
Not available
Limited to bank hours
Documents Required for International Wire Transfer from India to Latvia
The documents required for your international wire transfer to Latvia depend on the purpose of remittance. Three documents are mandatory for all transfers:
- PAN card
- KYC and Address Proof (Aadhaar / Passport / Voter card)
- Outward Remittance Application (A2 cum LRS Declaration)
Additional documents by purpose:
Required Documents:
• Admission letter / University offer letter
• Student's valid passport (if remitter is a close relative)
• Admission letter / University offer letter
• Student's valid passport (if remitter is a close relative)
How Money Is Received in Latvia
Accurate beneficiary details, including the 21-character Latvian IBAN and the bank's BIC or SWIFT code, are essential, and Latvian banks check that the account holder name matches the payment instruction.
Most recipients hold accounts with Swedbank, SEB, Citadele or Luminor, making bank-to-bank transfers the preferred and most reliable method. Latvia uses the euro, so funds sent from India are credited in euros and can be used immediately for rent, tuition fees or everyday expenses. Larger incoming amounts may prompt a routine source of funds check.
Send Money Overseas from India to Latvia with the BookMyForex App
Whether it's for university fees, medical expenses, a heartfelt gesture, funding your GIC/ blocked account, or any other purpose, the BookMyForex App makes transferring money from India effortless.
Download the app and transact with ease, right from your smartphone!
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TCS on International Money Transfers from India to Latvia
As per the Union Budget 2026, Tax Collected at Source (TCS) applies to outward remittances under LRS based on the purpose and amount of transfer. Here are the applicable TCS rates:
● Education via education loan: 0% TCS (any amount)
● Self-funded education & medical treatment: Nil up to ₹10 lakh; 2% above ₹10 lakh
● All other outward remittances: Nil up to ₹10 lakh; 20% above ₹10 lakh
Note: TCS is not a final tax, it can be claimed as credit when filing your ITR. BookMyForex auto-calculates applicable TCS at checkout so there are no surprises.
Know More About TCS →
Different Purposes Why Indians Transfer Money to Latvia
Purpose of Money Transfer to Latvia
Description
Higher Education
Indian students transfer tuition and living costs to Riga Technical University, Riga Stradins University, the University of Latvia and private business schools in Riga.
Employment Relocation Costs
Indian graduates and IT professionals taking up jobs in Riga receive funds for rental deposits, residence permit fees and living costs before their first Latvian salary.
Proof of Funds & Deposits
Money covers the financial guarantees, accommodation deposits and insurance payments that Latvian institutions and migration authorities require before a student residence permit is issued.
Family Maintenance
Indian families settled in Riga receive regular support from relatives in India for rent, childcare, schooling and everyday household expenses throughout the year.
Business & Trade Payments
Indian firms remit funds to Latvian partners, particularly across timber and wood products, logistics through the Baltic ports, IT services, pharmaceuticals and food processing.
Travel & Extended Stay
Transfers cover extended family visits, graduation travel, short courses and job hunting periods, along with onward travel across the Baltic states and the Schengen area.
BookMyForex International Wire Transfer Testimonials
As a senior citizen, I was anxious about completing the transaction, but BookMyForex guided me patiently. The funds were credited to my son's account super fast!
Great remittance platform with prompt service. I hit a few initial hiccups, but the team resolved everything quickly. Overall, an excellent experience!
BookMyForex is transparent, safe, and easy to use. The team is highly experienced, providing fast transfers, the best exchange rates, and minimal bank fees.
Great service, fast transfers, and good rates. Their team explained everything over the phone and made the whole process easy!
Sanjay Tripathi
No hidden charges, Easy to use, Excellent Order Tracking, Best Exchange Rate
Pratyaksh
Smooth and Easy Online Process
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