If you are traveling to Mumbai with dollars or any other foreign currency then there are several ways to exchange them with the local Indian Rupee (INR). You can exchange currency at the hotel where you are staying at a decent rate. However, you can get much better rates at currency exchange offices found throughout Mumbai. If you are staying in South Mumbai, which is preferred by most tourists, then you can get currency exchanged at Thomas Cook at Dr. D. N. Road or UAE Exchange near Indira Dock.