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Forex Rules And Guidelines

 
 
Forex
The Reserve Bank of India had Issued the guidelines to all residents, non residents and foreigners for purchasing, surrendering foreign exchange. RBI (Reserve Bank of India) is the central bank of the india and that has the authority to issue guidelines regarding the Foreign Exchange Transaction. (Web site www.rbi.or.in).Contravention of any law is punishable by the provision of FEMA and other indian laws which are applicable for that offense.
We are here providing very precise information about the Foreign Exchange transaction rules. for Detailed and Updated information about the Forex facilities please visit (www.rbi.org.in->FEMA->FAQ). Whatever information we are giving here is for reference use only and need further consultation and cross check from RBI Office. We are not liable for ANY consequences, which may arise due to these information. So please visit RBI sites for updated information regularly
 

For Indians
Foreign exchange can be purchased from any authorised dealers, full-fledged money changers for business and private visits.

If you are a Resident Indian, you can buy foreign exchange without permission from the Reserve Bank of India for :

Private Travel

You can avail of foreign exchange upto US$ 10,000 in any calendar year for tourism or private travel to any country other than Nepal and Bhutan on the basis of self-certification.

CLICK HERE TO DOWNLOAD THE DECLARATION FORMAT.

Business Travel
You can avail of foreign exchange upto US$ 25,000 for a Business Trip to any country other than Nepal and Bhutan on the basis of certification.


CLICK HERE TO DOWNLOAD THE DECLARATION FORMAT.

Endorsement on passport
There is no compulsion for you to get your passport endorsed with the foreign exchange purchased for travel outside India. Should you desire to get your passport endorsed, the bank/money changer releasing foreign exchange would do it.

Visit to Nepal and Bhutan
You can carry any amount of Indian currency while travelling to these countries, but you are not permitted to take Indian currency notes of denomination of Rs.500 and above or buy any foreign exchange for visit to these countries.

Bringing in Foreign Exchange
You can bring into India foreign exchange without any limit. If, however, the value of foreign currency in cash exceeds US$ 5,000 and/or the cash plus TCs exceed US$ 10,000 it should be declared to the customs authorities at the airport in the currency declaration form (CDF), on arrival in India..

 
 
   
 
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