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of <h1>NRIs Can Open Foreign Currency Accounts Abroad, Remit Funds Internationally with Specific Banking Regulations and Conditions</h1> Non-resident Indians and Persons of Indian Origin can open Foreign Currency (Non-Resident) Accounts with authorized dealers using funds remitted from outside India. These are term deposit accounts in designated currencies with specific conditions for opening, interest rates, fund movements, and conversions. Accounts can maintain existing terms if account holder's residential status changes, with provisions for joint accounts, repatriation, and third-party remittances, subject to Reserve Bank of India regulations and reporting requirements.
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