How much foreign and Indian currency can be carried in cash to foreign countries?

It’s also important to remember that the country you’re going to may have its own rules about how much cash you can bring in. Make sure to do your research depending on the country you’re headed to.

Travellers going to any country are allowed to purchase foreign currency notes/coins only up to USD 3000 per visit. Balance amount can be carried by the residents in the form of store value cards, travellers cheques, or banker’s drafts within the traveller’s overall LRS entitlement of USD 250,000 or equivalent under the LRS scheme.

However, travellers proceeding to Iraq and Libya can carry foreign currency notes and coins not exceeding USD 5000 or its equivalent per visit, and travellers proceeding to the Islamic Republic of Iran, Russian Federation, and other Republics of the Commonwealth of Independent States who can draw entire foreign exchange (up-to USD 250,000) in the form of foreign currency notes or coins. For travellers proceeding for Haj/ Umrah pilgrimage, the full amount of entitlement (USD 250,000) in cash or up to the cash limit as specified by the Haj Committee of India, may be released by the ADs and FFMCs.

Resident travellers of India can carry abroad Indian Rupees up to Rs. 25,000.

It’s also important to remember that the country you’re going to may have its own rules about how much cash you can bring in. Make sure to do your research depending on the country you’re headed to.

For travellers visiting European destinations like France, Spain, Germany, Italy, Greece, etc. the limit is set at less than EUR 10,000. Amounts surpassing this threshold must be declared to customs authorities upon entry into those countries to ensure compliance with financial regulations. Any sum less than EUR 10,000 can be brought in without the need for declaration.

Travelers from India visiting the USA can carry currency up to USD 3000 per person per trip. The balance amount can be carried in the form of travellers’ cheques, Forex cards, or bank transfers.

Travellers carrying CAN 10,000 or more in Canadian dollars or equivalent foreign currencies must declare the amount to border security officers of Canada.

Thailand imposes restrictions on the amount of cash travelers can bring into their country. The maximum allowable amount is THB 50,000, with minimum thresholds set at THB 10,000 per person or THB 20,000 per family.

There is no cash limit to bring into the UK money from abroad however you do need to declare if you bring cash to the UK of £10,000 or more. When you arrive in the UK, follow the “goods to declare” or “red channel” signs, and tell a Border Force officer you want to declare cash. You must declare cash of £10,000 or more to UK customs if you’re carrying it between Great Britain (England, Scotland, and Wales) and a country outside the UK. If you’re travelling as a family or group with more than £10,000 in total (even if individuals are carrying less than that) you still need to make a declaration.

In Australia amounts less than AUD 10,000 do not require declaration upon entry.

If you are entering or leaving Singapore carrying a total value of Physical Currency and Bearer Negotiable Instruments (CBNI)1 exceeding S$20,000 (or its equivalent in a foreign currency), you are required by law to make a CBNI declaration (Form NP 727) by submitting a full and accurate report to the Singapore Police Force. The requirement to declare will apply when you are carrying the CBNI for yourself, on behalf of any other person, travelling alone or with other persons. It will be an offence under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992 if you fail to submit a full and accurate report. You could face a fine of up to S$50,000 or imprisonment for up to three years or both, and the CBNI may be seized and/or confiscated upon conviction. (‘Physical currency’ refers to coins and printed money. Examples of bearer negotiable instruments include a bill of exchange, cheques pay to “Cash”, cheques with “or bearer” not crossed out, promissory notes, bearer bonds, money orders, and postal orders).

Travellers are permitted to carry less than Mauritian Rupee (MUR) 500,000 into the country without the need for declaration.

Indian travellers visiting Nepal are subject to restrictions on the amount of cash they can carry, set at INR 25,000. Additionally, currency notes with denominations exceeding INR 100 are not allowed to be brought into the country to prevent counterfeit currency circulation.

While Indian currency is widely accepted in Bhutan, travellers are prohibited from carrying notes with denominations of 500 and above to prevent currency-related issues and ensure smooth financial transactions within the country.

Passengers leaving India are allowed to carry any articles including jewellery in their bonafide baggage without any value limit. Taking personal jewellery out of India is as per the Baggage Rules, governed and administered by the Customs Department, Government of India. If you are carrying jewellery or other expensive items abroad, you will need to declare these at the airport at the time of departure and obtain an export certificate from Indian Customs. This will ensure that you don’t pay duty when you return.

Foreign exchange for travel abroad can be purchased from an authorized person against rupee payment in cash below Rs.50,000/-. However, if the sale of foreign exchange is for the amount equivalent to Rs 50,000/- and above, the entire payment should be made by way of a crossed cheque/ banker’s cheque/ pay order/ demand draft/ debit card/credit card / prepaid card only.

Banks authorised to deal in foreign exchange are permitted to issue International Debit Cards (IDCs) which can be used by a resident individual for drawing cash or making payment to a merchant establishment overseas during his visit abroad. IDCs can be used only for permissible current account transactions and the usage of IDCs shall be within the LRS limit.

Resident individuals maintaining a foreign currency account with an Authorised Dealer in India or a bank abroad, as permissible under extant Foreign Exchange Regulations, are free to obtain International Credit Cards (ICCs) issued by overseas banks and other reputed agencies. The charges incurred against the card either in India or abroad, can be met out of funds held in such foreign currency account/s of the cardholder or through remittances, if any, from India only through a bank where the cardholder has a current or savings account. The remittance for this purpose should also be made directly to the card-issuing agency abroad, and not to a third party. It is also clarified that the applicable credit limit will be the limit fixed by the card issuing banks. There is no monetary ceiling fixed by the RBI for remittances, if any, under this facility. The LRS limit shall not apply to the use of ICC for making payment by a person towards meeting expenses while such person is on a visit outside India.

ICCs/ IDCs can be used for travel abroad for various purposes and for making personal payments like subscriptions to foreign journals, internet subscriptions, etc. However, the use of ICCs/IDCs is NOT permitted for prohibited transactions indicated in Schedule 1 of FEM (CAT) Amendment Rules 2015 such as the purchase of lottery tickets, banned magazines, etc.

Use of these instruments for payment in foreign exchange in Nepal and Bhutan is not permitted.

Related Posts:

Read the following articles related to FEDAI rules

1. What is the role of FEDAI?
2. Important FEDAI Rules
3. FEDAI rules regarding Foreign Exchange Contracts
4. FEDAI rule: Transfer of funds between Vostro Accounts with two banks explained
5. FEDAI rules related to clean instruments/ inward remittance
6. FEDAI rules related to import transactions
7. FEDAI RULEs related to export transactions
8. FEDAI Rule: Export Bills sent for collection
9. FEDAI rules: Interest/Swap charges in case of Substitution/Change in Tenor of a bill
10. FEDAI rules related to the Normal Transit Period and the notional due date
11. FEDAI RULES: Business Hours for quoting FX rates