According to a PTI report, following changes in the Forex rules, travellers going abroad can get up to USD 3,000 or its equivalent amount in other currencies from Forex dealers without prior permission of the Reserve Bank of India (RBI). The existing limits have been reviewed and it has been decided to increase this ceiling, with immediate effect, stated the RBI notification.
These provisions, however, will not apply to persons going to certain specified countries like Iraq, Libya, Iran, Russia and the Commonwealth of Independent States (CIS) countries. The notification further stated that travellers going to Libya or Iraq will continue to get up to USD 5,000 or its equivalent in other currencies while the existing provisions for travellers to Iran, Russia and CIS countries will remain unchanged. Forex dealers and money changers can also sell foreign exchange in other currencies other than American Dollar up to USD 3,000. |