There’s no mistaking the near-superhuman stunts that have become a staple in many Bollywood movies. Many of these movies thrive on characters who play larger-than-life heroes and I can never seem to get enough of them. But away from the big screen, many Indian freelancers are pulling off their own kind of superhuman feats by pushing boundaries as software engineers, writers, and designers. And they are showing no signs of slowing down.
A small cog in this wheel is managing currency risks. Exchange rates, conversion fees, and fluctuating currencies can quietly reduce your hard-earned money.
I know you’d rather be designing logos or writing copy than obsessively checking “USD to INR rate today.” But tackling currency risk is essential if you want your freelancing career abroad to be sustainable.
Also read: Simple ways to manage multiple currencies as a freelancer or digital nomad
The thing about freelancing is that your income is already unpredictable, up and down like a toddler on a trampoline. Adding currency fluctuations on top of that could make basic planning very difficult. For example, if the dollar drops against the rupee right after you’ve been paid, your actual income in INR shrinks, even though you did the same work.
And it’s not just the exchange rate. Payment platforms and banks often charge high fees or use unfair conversion rates. Those hidden cuts can hurt when you’re living from invoice to invoice. I’ll be teaching you how to maximise your earnings.
Also read: Best ways for parents to send money to students overseas
Now, I’m not saying you need to turn into a forex trader, but there are some practical steps you can take to keep more of what you earn:
Instead of converting everything immediately, consider keeping some of your money in USD or EUR. This gives you flexibility, especially if you expect the exchange rate to improve later.
Some platforms charge sky-high conversion fees, while others let you receive in foreign currency and withdraw when it suits you. Grey enables you to open USD, GBP, or EUR accounts from India and send to your local bank account when you’re ready.
If you know you’ll need INR at a specific time (like rent or bills), plan your conversions around that. This way, you won’t be forced to convert at a terrible rate.
If all your clients pay you in one currency, you’re more exposed to swings. Working with a mix of US, UK, and European clients spreads the risk out a bit.
Also read: How international students can manage tuition, living costs, and payouts abroad
At the end of the day, freelancing is supposed to give you freedom: freedom to choose your projects, your clients and your working hours. But that freedom can quickly feel restricted if you constantly worry about how much you’ll take home after fees and exchange rates.
The goal isn’t to eliminate currency risk entirely (you can’t), but to manage it in a way that doesn’t leave you broke or anxious. With the right tools and some planning, you can make sure the money you earn abroad actually works for you here in India.
So focus on your craft, pitch those clients abroad, and let smart money management do the heavy lifting in the background.
Sign up on Grey today or download the app to experience true financial freedom as a freelancer.
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