Which exchange format is best for Photoshop to Inkscape?

Is there a psd to svg converter?

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I suppose there might be some on the internet. In fact it happens the forum was spammed by an image converting website the other day. Out of curiosity, I scroogled, and found several to many websites that convert many different graphics formats. So you could try that. Although now as I think about it you probably won't find one for PSD to SVG -- explanation below.

I'm not familiar with PS, but some quick research reveals that PSD is a raster format. I don't know if it can be imported as PSD. I would guess that PDF would be the best option, although as I said, I'm not sure.

However, to convert any raster format to SVG, you'll have to use either Inkscape's Trace Bitmap tool, or some other conversion engine (such as .... rats, I don't have the link on this computer - I'll edit in later today, when I get back on the other one - sorry). Anyway, it's not just a simple format conversion. The entire image has to be changed from the raster/pixel-oriented image to the vector/paths-oriented format.

After importing it in either PDF or some other format (which maybe others will have ideas about) and preferably embedding it, the only reason I can think that you would not need to use a trace engine, is if you simply want to add text to the photo or image. But if you need to edit the image itself, it will have to be converted via trace engine.