India is a cheap holiday option

Australians looking to purchase overseas travel money for a foreign excursion this summer will find they get plenty of bang for their buck when visiting India.

The latest conversion rates show that $1 is worth 55.9 rupees and Travelguru, India's largest online hotel network, has issued some advice on where that money would be best spent.

It noted that Goa came out as India's top tourist destination in the summer months in recent research.

While Goa undoubtedly offers plenty to holidaymakers, that is not to say it is the only option worth considering. Australians will also find fun, sun and culture at some of the nation's other top vacation spots, which include Ooty, Mysore, Kodaikanal and Darjeeling.

Earlier this week it was revealed that the rupee has declined by as much as 20 per cent versus the dollar since the start of 2012, meaning it is increasingly affordable for Australians to head to the Asian nation for a break.