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How much foreign exchange can be purchased in foreign currency notes while buying exchange for travel abroad?
Travellers are allowed to purchase foreign currency notes/coins only up to USD 2000. Balance amount can be taken in the form of traveller’s cheque or banker’s draft. Exceptions to this are (a) travellers proceeding to Iraq and Libya can draw foreign exchange in the form of foreign currency notes and coins not exceeding US$ 5000 or its equivalent; (b) travellers proceeding to the Islamic Republic of Iran, Russian Federation and other Republics of Commonwealth of Independent States can draw entire foreign exchange released in form of foreign currency notes or coins.

How much in advance one can buy foreign exchange for travel abroad?
The foreign exchange acquired for any purpose has to be used within 60 days of purchase. In case it is not possible to use the foreign exchange within the period of 60 days it should be surrendered to an authorised dealer.
Can one pay by cash full rupee equivalent of foreign exchange being purchased for travel abroad ?
Foreign exchange for travel abroad can be purchased from banks against rupee payment in cash up to Rs. 50,000/-. However, if the rupee equivalent exceeds Rs. 50,000/-, the entire payment should be made by way of a crossed cheque/banker’s cheque/pay order/demand draft only.

Within what period a traveller who has returned to India is required to surrender foreign exchange?
On return from a foreign trip travellers are required to surrender unspent foreign exchange held in the form of currency notes within 90 days and travellers’ cheques within 180 days of return. However, they are free to retain foreign exchange upto USD 2,000, in the form of foreign currency notes or TCs for future use or credit to their RFC(Domestic) Account without any limit.

On return to India can one retain some foreign exchange?
Residents are permitted to hold foreign currency up to USD 2,000 or its equivalent or credit to their RFC(Domestic) Account without any limit provided the foreign exchange was -

acquired by him while on a visit to any place outside India by way of payment for services not arising from any business in or anything done in India; or

acquired by him, from any person not resident in India and who is on a visit to India, as honorarium or gift or for services rendered or in settlement of any lawful obligation, or

acquired by him by way of honorarium or gift while on a visit to any place outside India; or

acquired by him from an authorised person for travel abroad and represents the unspent amount thereof.

Is one required to surrender foreign coins also to an authorised dealer, money changers?
There is no restriction on residents holding foreign coins.

While coming into India how much Indian currency can be brought in?
A person coming into India from abroad can bring in with him Indian currency notes within the limits given below:

a. upto Rs. 5,000 from any country other than Nepal or Bhutan, and
b. any amount in denomination not exceeding Rs.100 from Nepal or Bhutan.

While going abroad how much foreign exchange, in cash, can a person carry?
Residents are free to carry the foreign exchange purchased from an authorised dealer or money changer in accordance with the Rules. They are, however, allowed to carry foreign exchange in the form of currency notes/coins upto USD 2,000 or its equivalent only. Balance amount can be carried in the form of traveller’s cheque or banker/s draft.
While coming into India how much Indian currency can be brought in?
A person coming into India from abroad can bring in with him Indian currency notes within the limits given below:

a. upto Rs. 5,000 from any country other than Nepal or Bhutan, and
b. any amount in denomination not exceeding Rs.100 from Nepal or Bhutan.

While going abroad how much foreign exchange, in cash, can a person carry?
Residents are free to carry the foreign exchange purchased from an authorised dealer or money changer in accordance with the Rules. They are, however, allowed to carry foreign exchange in the form of currency notes/coins upto USD 2,000 or its equivalent only. Balance amount can be carried in the form of traveller’s cheque or banker/s draft. (In this connection please see item No.9).

While coming into India how much foreign exchange can be brought in?
A person coming into India from abroad can bring with him foreign exchange without any limit. However, if the aggregate value of the foreign exchange in the form of currency notes, bank notes or travellers cheques brought in exceeds USD 10,000/- or its equivalent and/or the value of foreign currency exceeds USD 5,000/- or its equivalent, it should be declared to the Customs Authorities at the Airport in the Currency Declaration Form (CDF), on arrival in India.

While going abroad how much foreign exchange can a person carry?
Residents are free to carry the foreign exchange purchased from an authorised dealer or money changer in accordance with the Rules. In addition, they can also carry up to USD 2,000, or higher amounts representing the unutilized balance of a previous trip, if already held by them (see above) in accordance with the Regulations.

 
 
   
 
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