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Export / Import of Currency and Possession / Retention of Foreign Currency

Reserve Bank of India (RBI) has updated the guidelines on export and import of currency.

What are the guidelines on export and import of Indian currency?

Transferor Transfer from Transfer to Nature of currency Maximum limit
Person resident in India India Countries other than Nepal and Bhutan Currency notes of Government of India (GoI) and RBI notes ₹25000 per person
Commemorative coins 2 coins
Person resident in India gone out of India on temporary visit, on his return Countries other than Nepal and Bhutan India Currency notes of GoI and RBI notes ₹25000 per person
Person resident outside India (not citizen of Pakistan / Bangladesh) visiting India India Any country Currency notes of GoI and RBI notes ₹25000 per person
Any country India
Person (not citizen of Pakistan / Bangladesh) India Nepal and Bhutan Currency notes of GoI and RBI notes in denominations up to ₹100 No limit
Nepal and Bhutan India
India Nepal and Bhutan Notes in denominations above ₹100 ₹25000
Nepal and Bhutan India

Person

 India Nepal and Bhutan Currency notes of Nepal or Bhutan No limit
Nepal and Bhutan India

  • Commemorative coin includes coin issued by GoI Mint to commemorate any specific occasion or event and expressed in Indian currency.
  • No person shall take or send out of India the Indian coins which are covered by the Antique and Art Treasure Act, 1972.

What are the guidelines on import and export of foreign exchange?

Transferor Transfer from Transfer to Nature of currency Maximum limit
Person Any country India Foreign exchange in any form other than currency notes, bank notes and travellers cheques No limit
Foreign exchange (other than unissued notes)* No limit
Authorised person India Any country Foreign currency acquired in normal course of business No limit
Person India Any country Cheques drawn on foreign currency account

Foreign exchange obtained from an authorised person

Currency in the safes of vessels or aircrafts brought into India or taken on board a vessel or aircraft with the permission of RBI.

No limit
Person India Any country Foreign exchange possessed

Unspent foreign exchange brought back to India while returning from travel abroad and retained 		No limit
Person resident outside India India Any country Unspent foreign exchange Not exceeding the amount brought in and declared on arrival in India
* Subject to the condition that such person makes, on arrival in India, a declaration to the Custom authorities in Currency Declaration Form (CDF). However, such declaration is not required where the aggregate value of the foreign exchange in the form of currency notes, bank notes or traveller's cheques does not exceed US$ 10,000 or its equivalent and / or the aggregate value of foreign currency notes does not exceed US$ 5,000 or its equivalent.

What are the limits for possession or retention of foreign currency?

Possession by Nature of currency Maximum limit
Authorised person Foreign currency and coins, within the scope of his authority No limit
Any person Foreign coins No limit
Person resident in India Foreign currency notes, bank notes and foreign currency travellers' cheques
  • acquired while on a visit to any place outside India by way of payment for services not arising from any business in or anything done in India
  • acquired from any person not resident in India and who is on a visit to India, as honorarium or gift or for services rendered or in settlement of any lawful obligation
  • acquired by way of honorarium or gift while on a visit to any place outside India
  • represents unspent amount of foreign exchange acquired from an authorised person for travel abroad
 US$ 2000 or its equivalent
Person resident in India but not permanently resident Foreign currency in the form of currency notes, bank notes and travellers cheques, acquired, held or owned by him when he was resident outside India and, brought into India No limit

  • Not permanently resident means a person resident in India for employment of a specified duration (irrespective of length thereof) or for a specific job or assignment, the duration of which does not exceed 3 years.


References

Reserve Bank of India. (2015, December 29). 'Foreign Exchange Management (Export and import of currency) Regulations, 2015'. Retrieved from https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=10255&Mode=0

Reserve Bank of India. (2016, February 04). 'Foreign Exchange Management (Possession and Retention of Foreign Currency) Regulations, 2015'. Retrieved from https://rbi.org.in/scripts/NotificationUser.aspx?Mode=0&Id=10271

Reserve Bank of India. (2025, December 08). 'Export and Import of Indian Currency to or from Nepal and Bhutan'. Retrieved from https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=13215&Mode=0


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