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of <h1>Authorized persons may possess unlimited foreign currency while residents can retain up to USD 2000 equivalent under Regulation 3</h1> Regulation 3 of FEMA establishes possession and retention limits for foreign currency and coins. Authorized persons may possess unlimited foreign currency within their authority scope. Any person may possess unlimited foreign coins. Residents of India may retain foreign currency notes, bank notes, and traveller's cheques up to USD 2000 equivalent if acquired through overseas service payments, gifts/honorarium from non-resident visitors, overseas gifts, or unspent travel allowances from authorized dealers.
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