Foreign Exchange
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- The Indian currency is the Rupee (INR). Notes are printed and available in denominations of Rs.1000,Rs. 500, Rs 100, Rs 50, Rs 10, Rs 5 .
- The Indian rupee is divided into 100 Paisas. Coins are minted in the following denominations of Rs 5, Rs 2, Rs 1, 50 and 25 Paisa.
- here are no restrictions on the amount of foreign currency or travellers' cheques a tourist may bring into India provided he makes a declaration in the Currency Declaration Form given to him on arrival It shall not be necessary to make such declaration where the aggregate value of the foreign exchange in the form of currency notes, bank notes or traveller's cheques brought in by such person at any one time does not exceed US$10,000 ( US Dollars ten thousands) or its equivalent and/or the aggregate value of foreign currency notes brought in by such person at any one time does not exceed US$ 5,000 ( US Dollars five thousands) or its equivalent. . This will enable him not only to exchange the currency bought in, but also to take the unspent currency out of India on departure.
- Tourists are advised to exchange their money into Indian currency with authorized money-changers. Exchanging of foreign currency with any source other than Banks and authorized money-changers is an offence .
- An encashment certificate is a proof that the foreign currency was exchanged through an authorized dealer. This certificate is also very useful when you want to change your money back into your country's currency while leaving India.
- It is very important for a tourist to know that no Indian currency whatsoever, can be brought in or taken out of the country. While in India, a tourist is advised to keep stock of small change, as currently there is a shortage of it in the country.
The amount of foreign exchange that may be carried by an indian from India on an overseas trip under current regulations is as under;
| Purpose of Trip |
Maximum permissible Amount |
Utilisation |
Documentation |
| Business trip |
US$ 25,000 per trip |
No limit on number of trips made per year |
Application on company letterhead in the prescribed format signed by the authorized signatory. |
| Leisure trip |
US$ 10,000 per calendar year under the Basic Travel Quota (BTQ) |
Unutilised portion of the BTQ cannot be carried forward to the next year. |
BTQ application, copies of passport, valid ticket and valid visa for the destination country. |
Overseas education |
US$ 100,000 per year + Entitlement under the BTQ mentioned above |
Higher amounts may be permitted if mentioned on the I-20 form for US bound students or the college admission letter for students bound to other countries. |
TRS form.
For BTQ portion - see above. |
Medical treatment |
US$ 100,000 per year |
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TRM form. |
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