INDIAN AND FOREIGN CURRENCY – HOW MUCH TO CARRY ON TRAVEL OUT OF INDIA

 

Planning an Overseas Travel?  How much of Indian currency or foreign currency can you carry?  Are there any regulations governing this?  What do you do with unspent balances of foreign currency you had from your previous travel?  Read on to know the fundas.

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• A Resident or Non Resident travelling out of India, cannot carry INR in excess of Rs. 25,000.

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• If you are a Resident or Non Resident, you need to declare to Indian Customs if you are bringing foreign currency notes in excess of US$ 5,000 or equivalent. If you happen to bring foreign currency notes not exceeding US$ 5,000 equivalent but the aggregate of foreign currency notes, bank notes or TC you bring is in excess of US$ 10,000 or its equivalent, you still need to declare.  Any unspent balances from such a declared amount can be taken out of India as well.

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• You can take out of India any amount of foreign exchange as permitted to be drawn by your Authorised Dealer Bank, Money Changes or other Authorised Persons (AP).  You cannot carry foreign currency on travel to Nepal or Bhutan.

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• You can take out of India any amount of foreign exchange as permitted to be drawn by your Authorised Dealer Bank, Money Changes or other Authorised Persons (AP).  You cannot carry foreign currency on travel to Nepal or Bhutan.

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• You can keep only up to US$ 2,000 out of the unspent balances of foreign exchange acquired from the AP for prior travels.You can use this for your next travel abroad.

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• You can keep only up to US$ 2,000 if you received as gift or honorarium, or as payment for services rendered abroad while on travel abroad.You can use this for your next travel abroad.

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• You can keep only up to US$ 2,000 if you received as gift or honorarium or as payment for services rendered, from a visiting nonresident.  You can use this for your next travel abroad.

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​[Source: Foreign Exchange Management (Export and Import of Currency) Regulations, 2015 and Foreign Exchange Management (Possession and Retention of Foreign Currency) Regulations, 2015 - Contents updated till 27 Aug 2022]​