Mumbai, Apr 2 (PTI) The Reserve Bank on Thursday allowed residents as well as non-residents to exchange Indian rupee notes at foreign exchange counters at departure halls in international airports beyond the immigration or customs desk.

Earlier, such foreign exchange counters were only allowed to buy Indian rupee from non-residents and sell foreign currency to them.

"On a review, it has been decided to allow residents (along with non-residents) to exchange Indian rupee notes at foreign exchange counters at the departure halls in the international airports established in the duty-free area or security hold area beyond the immigration or customs desk," the Reserve Bank of India (RBI) said in a circular.

The Master Direction on Money Changing Activities is being amended accordingly, it added. PTI NKD TRB

Foreign exchange counters at airports can now exchange Indian rupee notes for residents and non-residents beyond immigration controls. Residents, as well as non-residents, may exchange Indian rupee notes at foreign exchange counters in departure halls of international airports beyond the immigration or customs desk. The earlier facility at such counters was limited to buying Indian rupees from non-residents and selling foreign currency to them. The Master Direction on Money Changing Activities is being amended to reflect the expanded exchange scope.