While visiting any country, it is always advisable and beneficial to know the basic laws governing your entrance, stay and exit to and from any country. Apart from the VISA regulations and identity documents required to visit a country, which will ensure your entry to a country, it is also very important to know the regulation with regards to the currency, that can be carried into and out of the country. Not only the quantum but the form in which the money is at your command will not only decide how you live and travel in a country, but will also decide what you can bring and take out of the country.
The regulation governing the bringing in and taking out the currency while travelling to and from India is defined under Foreign Exchange Management Act 1999 and is implemented and regulated by Reserve Bank of India, the controlling bank in India.
It is very important for all visitors, whether tourists, students, businessmen or workers travelling to India to know and follow these regulations, else they might have to face hassle while travelling in India. The Most important and must know regulations are covered here under:
Currency regulations for Foreign/ Non Resident visiting India
- Foreigners or non resident Indians cannot bring with him Indian currency notes or coins, of any denomination, neither they are allowed to take out any Indian Currency notes or Coins. The visitors however can bring traveller cheques in INR with them.
- Foreigners or non resident Indians can bring unlimited foreign currency in India in cash, traveller cheques or bank notes however the following have to be followed :
A. You can carry Foreign currency undeclared if it is less than USD (Unites states Dollars)10,000 or equivalent (sum of currency notes, traveller cheques and bank notes) provided the total of currency note is less than USD (Unites states Dollars) 5000 .
B. In case you bring more than USD 10000 or equivalent ( or more than USD 5000 or equivalent in cash/ currency notes),you need to declare the amount at the immigration counter by filling in a Currency Declaration Form.
C.Foreigners can take back any unspent cash/ money with them, provided that the money is not more than what they have brought with them while arriving in India, and what have been declared by them in Currency Declaration Form.
To ensure that foreigners can take with them any unspent money, they are advised to get the money exchanged only at authorized money changers so that when they need,they can reconvert them to their currency and carry the same with them. They might need to show these certificate while taking the money back with them.
D.Foreigners or non resident Indians can however take the Indian currency while travelling to Nepal or Bhutan from India, provided they have the foreign currency exchange certificate with them confirming that they have got the Indian Currency by legally changing their foreign currency. Kindly note that they can only take currency in the denomination of notes of INR 100 or less. Indian Notes of denomination of INR 500 or INR 2000 are not accepted in Nepal.
For Indian Resident :
They can take outside India (other Than Nepal or Bhutan), currency in Indian Notes not exceeding INR 7500 Per Person
a) They can take outside India (other Than Nepal orBhutan), commemorative coins not exceeding two coins each. ( commemorative Coins are coins issued by Govt of India mint on special occassion or event and expressed in Indian Currency.
b) While coming back from a temporary visit to Outside India (other than Nepal or Bhutan) , they can bring currency notes of Reserve bank of India, not exceeding INR 7500 Per Person.
No Indian resident without the General or special permission of Reserve Bank of India is allowed to bring or take out foreign currency.
Export of foreign exchange and currency notes :-
An authorised person may send out of India foreign currency acquired in normal course of business through the following means :
a) Cheques drawn on foreign currency account maintained in accordance with Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2000;
b) Foreign exchange obtained by him by drawal from an authorised person in accordance with the provisions of the Act or the rules or regulations or directions made or issued there under
c) currency in the safes of vessels or aircrafts which has been brought into India or which has been taken on board a vessel or aircraft with the permission of the Reserve Bank
The regulation governing the bringing in and taking out the currency while travelling to and from India is defined under Foreign Exchange Management Act 1999 and is implemented and regulated by Reserve Bank of India, the controlling bank in India.
It is very important for all visitors, whether tourists, students, businessmen or workers travelling to India to know and follow these regulations, else they might have to face hassle while travelling in India. The Most important and must know regulations are covered here under:
Currency regulations for Foreign/ Non Resident visiting India
- Foreigners or non resident Indians cannot bring with him Indian currency notes or coins, of any denomination, neither they are allowed to take out any Indian Currency notes or Coins. The visitors however can bring traveller cheques in INR with them.
- Foreigners or non resident Indians can bring unlimited foreign currency in India in cash, traveller cheques or bank notes however the following have to be followed :
A. You can carry Foreign currency undeclared if it is less than USD (Unites states Dollars)10,000 or equivalent (sum of currency notes, traveller cheques and bank notes) provided the total of currency note is less than USD (Unites states Dollars) 5000 .
B. In case you bring more than USD 10000 or equivalent ( or more than USD 5000 or equivalent in cash/ currency notes),you need to declare the amount at the immigration counter by filling in a Currency Declaration Form.
C.Foreigners can take back any unspent cash/ money with them, provided that the money is not more than what they have brought with them while arriving in India, and what have been declared by them in Currency Declaration Form.
To ensure that foreigners can take with them any unspent money, they are advised to get the money exchanged only at authorized money changers so that when they need,they can reconvert them to their currency and carry the same with them. They might need to show these certificate while taking the money back with them.
D.Foreigners or non resident Indians can however take the Indian currency while travelling to Nepal or Bhutan from India, provided they have the foreign currency exchange certificate with them confirming that they have got the Indian Currency by legally changing their foreign currency. Kindly note that they can only take currency in the denomination of notes of INR 100 or less. Indian Notes of denomination of INR 500 or INR 2000 are not accepted in Nepal.
For Indian Resident :
They can take outside India (other Than Nepal or Bhutan), currency in Indian Notes not exceeding INR 7500 Per Person
a) They can take outside India (other Than Nepal orBhutan), commemorative coins not exceeding two coins each. ( commemorative Coins are coins issued by Govt of India mint on special occassion or event and expressed in Indian Currency.
b) While coming back from a temporary visit to Outside India (other than Nepal or Bhutan) , they can bring currency notes of Reserve bank of India, not exceeding INR 7500 Per Person.
No Indian resident without the General or special permission of Reserve Bank of India is allowed to bring or take out foreign currency.
Export of foreign exchange and currency notes :-
An authorised person may send out of India foreign currency acquired in normal course of business through the following means :
a) Cheques drawn on foreign currency account maintained in accordance with Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2000;
b) Foreign exchange obtained by him by drawal from an authorised person in accordance with the provisions of the Act or the rules or regulations or directions made or issued there under
c) currency in the safes of vessels or aircrafts which has been brought into India or which has been taken on board a vessel or aircraft with the permission of the Reserve Bank
