Foreign Currency Cash
No matter which country you are travelling to, it’s a good idea to carry some local cash with you for meeting unexpected expenses.
Just walk into our nearest branch for buying or selling foreign currency notes at competitive rates, as per your desired denominations.
Travellers going to all countries other than (a) and (b) below are allowed to purchase foreign currency notes / coins only up to USD 3000 per visit. Balance amount can be carried in the form of store value cards, traveller’s cheque or banker’s draft. Exceptions to this are (a) travellers proceeding to Iraq and Libya who can draw foreign exchange in the form of foreign currency notes and coins not exceeding USD 5000 or its equivalent per visit; (b) travellers proceeding to the Islamic Republic of Iran, Russian Federation and other Republics of Commonwealth of Independent States who can draw entire foreign exchange (up to USD 250,000) in the form of foreign currency notes or coins.
A person coming to 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 traveller’s cheques brought in exceeds USD 10,000 or its equivalent and/or the value of foreign currency alone 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.
A resident of India, who has gone out of India on a temporary visit may bring into India at the time of his return from any place outside India (other than Nepal and Bhutan), currency notes of Government of India and Reserve Bank of India notes up to an amount not exceeding Rs.25,000. A person may bring into India from Nepal or Bhutan, currency notes of Government of India and Reserve Bank notes, in denominations not exceeding Rs.100.
Permissible foreign exchange can be drawn 180 days in advance. In case it is not possible to use the foreign exchange within the period of 180 days, it should be immediately surrendered to an authorized person. However, residents are free to retain foreign exchange up to USD 2,000, in the form of foreign currency notes for future use or credit to their Resident Foreign Currency (Domestic) [RFC (Domestic)] Accounts.
On return from a foreign trip, travellers are required to surrender unspent foreign exchange held in the form of currency notes within 180 days of return. However, they are free to retain foreign exchange up to USD 2,000, in the form of foreign currency notes for future use or credit to their Resident Foreign Currency (Domestic) [RFC (Domestic)] Accounts.