Jan 15, 2008

Foreign Exchange Import of Indian Currency


Import of Indian Currency : India Rupee
Import of Indian Currency
The import of Indian Currency in to India is prohibited. However the Reserve Bank of India has permitted import by any person currency notes other than notes of above Rs.100/- and from other countries by indian travellers currency notes of Government of India and Reserve bank of India notes up to an amount not exceeding Rs.5000/- per resident Indian provided the amount sough to be brought to India had earlier been taken out while proceeding abroad on a temporary visit period.

  • Indian Customs Rules


    Import of Indian currency is prohibited. However, in the case of passengers normally resident of India who are returning from a visit abroad Indian currency upto Rs 5000 is allowed.

    Export and Import of Indian currency and currency notes :-
    Save as otherwise provided in these RBI regulation
    s, any person resident in India,

    • may take outside India (other than to Nepal and Bhutan) currency notes of Government of India and Reserve Bank of India notes upto an amount not exceeding Rs.5,000/- per person;
    • may take or send outside India (other than to Nepal and Bhutan) commemorative coins not exceeding two coins each.

    • 'Commemorative Coin' includes coin issued by Government o
      f India Mint to commemorate any specific occasion or event and expressed in Indian currency.

    • who had 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 from Nepal and Bhutan), currency notes of Government of India and Reserve Bank of India notes upto an amount not exceeding Rs.5,000/- per person.

    Import of Foreign Exchange
    As far as foreign exchange is concerned any person can bring in to India from a place outside India foreign exchange without
    any limit.Reserve Bank has granted general permission to any person to bring foreign currency into India from any place outside India without limit, provided he declares to Customs authorities on arrival the particulars of all such foreign currency brought in by him on the Currency Declaration Form (CDF).


    However,if the aggregate value of foreign currency brought in by him in the form of currency notes, bank notes or travellers cheques does not exceed U.S.$ 10,000 or its equivalent,and/or the value of foreign currency notes does not exceed U.S.$ 2500 or its equivalent, CDF is not required to be completed.


    Export and import of currency to or from Nepal and Bhutan :-

    Notwithstanding anything contained in these regulations, a person may –

    • take or send out of India to Nepal or Bhutan, currency notes of Government of India and Reserve Bank of India notes (other than notes of denominations of above Rs.100 in either case) ;
    • bring into India from Nepal or Bhutan, currency notes of Government of India and Reserve Bank of India notes (other than notes of denominations of above Rs.100 in either case) ;
    • take out of India to Nepal or Bhutan, or bring into India from Nepal or Bhutan, currency notes being the currency of Nepal or Bhutan.


    Reserve Bank of India

11 comments:

Anonymous said...

To make it easier for visitors could you not consider permitting tourists to bring in enough INR to cover taxi fares and basic incidentals as is the case in most countries

Anonymous said...

I agree with Anonymous - could not a maximum of say 1500 indian rupees be allowed to be brought in by a foreign tourist to pay for sundry items ie taxi, food etc before exchanging foreign currency at a local bank. Other countries seem to allow this!

Anonymous said...

You will not be able to buy INR outside India, how wil bring it even if you are allowed?

SANTHARAM said...

in the INDIA CUSTOMS BAGGAGE RULES IT HAS BEEN MENTIONED THAT CDF IS REQUIRED IF TOURISTS BRING CURRENCIES MORE Than US$2500 WHEREAS CDF SAYS IF THE CURRENCIES VALUE EXCEEDS US$5000 TOURIST AS TO DECLARE IN CDF. PLEASE CLARIFY

SANTHARAM said...

IN THE INDIA CUSTOMS BAGGAGE RULES
ARTICLE. FOREIGN EXCHANGE CURRENCIES BROUGHT BY THE TOURIST SAID TO BE DECLARED IN CDF IF THE VALUE EXCEEDS US$2500. WHEREAS IN CDF DECLARATION FORM THE LIMIT IS SAID TO BE US$5000
PLEASE CLARIFY

Anonymous said...

Why do any countries not permit their banknotes to be obtained by foreigners? In addition to being handy for travelers coming to the country, numismatic collectors around the world could but the notes for their colelctions. If someone wants to trade U.S. dollars, euros, British pounds, or any other hard currency for rupees, why not let them? Jamaica prohibited export of their notes until the late 1990s. Now it is allowed, and I have a collection of Jamaican notes. Prohibiting export of notes is stupid and serves no logical purpose whatsoever.

Anonymous said...

Quite confusing..Shall I exchange my currency to INR upon arrival to India or before?

Narayanaswamy said...

These days, banks in many airports in countries abroad, both accept and issue Indian currency against their local currency. Further banks in
Singapore and Dubai airports exchange either way Indian currency into or from any other currency also. Thus there is no problem for a foreigner to get Indian currency with him on arrival nor for an Indian leaving for tour abroad to carry upto INR 5000 and encash it on arrival at the foreign port.

Narayanaswamy said...

Banks at airports abroad both issue or accept Indian rupees against their local curency. Also banks in Singapore, Malaysian and Dubai airports liberally exchange indian currency and thus there is no problem for either a foreigner visiting India or an Indian visiting abroad for exchanging Indian curency upto the limit of Rs. 5000 allowed by the rules.

Anonymous said...

Only problem is the exchange rate is at the banks discretion and is usually very negative for travellers. You lose on coming in and loose on leaving the country. only the banks have a good laugh. A reasonable sum should be allowed without hassale for tourists.

Anonymous said...

I am of Indian Origin with OCI card
I am visiting India shortly. On my last trip, I had some Indian Rupees left and I brought them with me so that I can use them in future

I now understand that there is a limit of maximum amount of Indian Rupees one can bring into India.

How can you find out this limit ?