Foreign Exchange Declaration Required in India for Currency Over $5,000 or Total Over $10,000 per Customs Manual 2023.
Any individual can bring foreign exchange into India without limitation, but a declaration is mandatory if the value of foreign currency notes exceeds US$ 5,000 or if the total foreign exchange, including currency notes, bank notes, and traveler cheques, surpasses US$ 10,000 or its equivalent. This declaration must be made using the prescribed Currency Declaration Form as per the Customs Manual 2023 guidelines.