Foreign currency retention limits permit residents to retain specified foreign exchange acquired through travel, gifts, honoraria, services, or lawful obligations. An authorised person may possess foreign currency and foreign coins without limit within the scope of authority, while any person may possess foreign ... Summary
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Foreign currency retention limits permit residents to retain specified foreign exchange acquired through travel, gifts, honoraria, services, or lawful obligations.
An authorised person may possess foreign currency and foreign coins without limit within the scope of authority, while any person may possess foreign coins without limit. A person resident in India may retain foreign currency notes, bank notes and travellers' cheques up to an aggregate equivalent of US$ 2000 where they were acquired through specified non-business payments, gifts, honoraria, lawful obligations, or unspent foreign exchange obtained for travel abroad.
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