<p>The present study empirically investigates the impact of the foreign exchange rate on international tourists’ arrivals to India. The study uses monthly data of thirteen years from April 2012 to June 2024, which has been affected by various uncertain phases due to international and domestic matters. The breakpoint unit root test is used to detect unit root and structural alterations in the series simultaneously, while the wavelet coherence approach captures co-movement and lead-lag dynamic linkages between the foreign exchange rate and international tourists’ arrivals in India. The study reveals that the relationship between foreign exchange rates and international tourists’ arrivals is dynamic and varies over time and across frequencies or scale intervals. Mostly, the depreciation of the Indian currency makes travel more affordable and elevates international tourism demand. Tourist arrivals can affect exchange rates by generating higher foreign exchange gains. This study further reported that among four different foreign exchange rates, the US dollar to Indian rupee has the greatest impact on international tourists’ arrivals in India. Results suggest that policymakers should focus on preserving a competitive and stable exchange rate to support demand for international tourism.</p>