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Individual customer (Indian resident / Foreigner permanently residing in India) buying Forex for Private trip:

  • Foreign exchange up to US$ 250,000 is permissible in a financial year for multiple purposes including tourism or private travel to any country other than Nepal and Bhutan on the basis of self-certification under LRS. The availability of limit is considered by combining availment of foreign exchange under different purposes.

  • For purchasing, currency cash is acceptable only upto Rs. 50,000 per transaction. All purchases within 30 days shall be treated as single transaction

  • Travelers are allowed to purchase foreign currency notes/coins only up to US$ 3000. Balance amount can be taken in the form of Prepaid Forex card

  • Documents to be submitted:

    • Passport
    • Address proof such as: Telephone bill/ bank account statement/ letter from recognized public authority/ electricity bill/ ration card/ Letter from employer
    • Copy of Ticket
    • Visa if applicable
    • Self declaration cum undertaking form

Business customer buying Forex:

  • Visits for international conference, trainings, study tour, etc. are treated as business visits

  • Business customers can purchase US$250,000 for a year combined with other availment under LRS to any country other than Nepal and Bhutan

  • Travellers are allowed to purchase foreign currency notes/coins only up to US$ 3000. Balance amount can be taken in the form of Prepaid Forex card

  • Documents required to be submitted:

    • Passport
    • Memorandum of Association (MOA)
    • Company Pan Card
    • Company Registration documents
    • Letter from MD/CFO giving details of authorized signatories.
    • Foreign Currency request letter signed by authorized person from the company

Individual customers (Non-Residents) reconverting unspent Indian Currency:

  • Unspent Indian currency held by non residents can be reconverted into forex at the time of their departure from India if they provide the encashment certificate

  • If encashment certificate is not produced for bonafide reasons, then maximum Rs. 10,000 can be converted if the departure date is within 7 days

  • Documents required to be submitted:

    • A valid Encashment Certificate
    • Passport
    • Ticket

Individual customer (Resident/NRI/ Foreigners) selling forex:

  • To Resident customers, payment in cash in Indian Rupees may be made to the extent only US$ 1000 or its equivalent per transaction. Rest of the payment will be made by way of ‘Account Payee’ cheque /demand draft only

  • All purchases within 30 days are treated as single transaction for the above purpose

  • To Non-Resident Indians and foreigners, payment in cash can be acceded to the extent of only US$ 3000 or its equivalent (per month)

  • Documents required to be submitted:

    • Currency Declaration Form has to be submitted for currency above USD 5,000/- or Currency and Tc together USD 10,000
    • Photo Id such as: Passport (with Visa for NRIs)/ Voters ID/ Election card/ driving license/ Pan card (along with address proof like utility bills) etc.
    • Address proof such as: Telephone bill, bank account statement, letter from recognized public authority, electricity bill, ration card, Letter from employer