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Forex Guidelines & Rules by Reserve Bank of India

Planning on a foreign holiday and making arrangements? You must have wondered about forex currency exchange by now. Are you wondering whether to buy foreign currency notes but don’t know how to go about it? Read on for a guide on what are the international currency exchange rules that apply in India as per the Reserve Bank of India (RBI), before you get currency exchange. How much can you carry? If you are travelling to any foreign country, you can seek forex currency exchange of up to US $2,50,000 from an authorised dealer in one financial year. This applies to business or leisure travel, emigration, education or even employment. You could be visiting a country for a seminar, training, study tour, and you would be treated as a business traveller. If you plan a private visit to a foreign country for tourism, you will still be able to draw up to US $2,50,000 for a financial year for your visits abroad, irrespective of the ...