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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Foreign Currency Rules: Residents Can Hold Up to $2000, Authorized Persons Unlimited Under FEMA Regulations</h1> The regulation specifies limits for possession and retention of foreign currency under the Foreign Exchange Management Act. Authorized persons can possess foreign currency without limit. Residents in India can retain foreign currency up to US$2000 acquired through specific means, including travel, gifts, honorariums, or unspent travel exchange. Foreign coins can be possessed without restriction by any person.
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