How Much Foreign Currency Can I Carry While Travelling Abroad from India?

If you’re planning to travel internationally, do you need advice on how to carry cash without encountering any limitations?

There are limits to carrying cash before you board an international flight. While carrying money from India to another nation, there are a few things to consider.

What is the RBI rule for carrying foreign currency?

Any Indian resident can purchase foreign exchange without seeking permission from the RBI for:

Private Travel

• As per self-certification, you can access up to US$ 10,000 foreign exchange annually for personal travel or tourism to any other country except Nepal and Bhutan.

Visit to Nepal and Bhutan

• When travelling to Nepal and Bhutan, you can bring any amount of Indian currency with you. You cannot carry Indian currency notes of Rs.500 and above or purchase any foreign exchange for your trip to these countries.

Study Abroad

• You can purchase foreign exchange up to US$ 30,000 or the estimated amount from the institution abroad, whichever is higher, per academic year. You need to provide simple documentary evidence of your requirement.

Medical Treatment

• If you need foreign currency for medical expenses outside of India, you can obtain up to US$ 50,000 based on self-certification. Banks are authorized to release additional funds beyond US$ 50,000 if you provide an estimate from a doctor or hospital in India or overseas.
• You can purchase foreign currency up to $25,000 per person to cover the expenses of boarding, lodging, and travel for the patient and their attendant. You can do this through self-certification.

Employment Abroad

• You can purchase foreign exchange for up to US$ 5,000 if you provide an employment letter.

Emigration

• If you have an emigration visa, you can purchase foreign exchange up to the amount allowed by the country of emigration or up to US$ 5,000.      

International Credit Cards     

Use your International Credit/Debit Cards/ ATM Cards –

• while on holiday outside India to meet your expenses.
• When outside India for the purchase of an item of import.

Residents can now freely use their ICCs while visiting abroad without restrictions or item-wise limits within the credit card’s overall limit. However, it’s important to note that ICCs cannot be used to purchase prohibited items such as lottery tickets, banned magazines, sweepstakes, or callback services.  

Exceptions to carrying cash

Some exceptions exist to carrying cash to some countries when travelling from India. There are listed below:

• Suppose you travel to countries like The Islamic Republic of Iran, The Russian Federation, or any other Commonwealth of Independent States Republic; you can only withdraw $250,000 in total foreign currency. 
• For each visit, you can draw $ 5000 in foreign currency if you travel to Libya and Iraq. 
• When visiting holy places for performing Hajj/umrah, you can draw the total amount of $ 2,50,000 cash or equivalent for each visit or up to the limit agreed by the Hajj committee of India. 

What are the cash equivalents you can make when travelling abroad?  

If you want to carry an amount more than INR 50,000, you can make the payment in:

• Demand Draft
• Crossed cheque
• Debit/credit cards
• Pay order
• Banker’s cheque
• Forex or travel cards

When travelling abroad, using a debit or credit card can lead to expensive fees. Transactions made with these cards can involve a lot of transaction charges. Solve this problem with a simple travel card!! A prepaid travel/forex card has many advantages, including withdrawing at different POS without paying extra charges. Also, currency fluctuations will never affect the travel card. You are also not required to link your bank account to the Forex card.

Remitforex powered by Unimoni gives a free travel card to customers travelling abroad! Some added advantages of our Forex card are:

• Provides a lock-in rate for currency exchange
• Avoids currency fluctuations
• Easy loading and reloading of currencies
• High security for the travellers in the form of a simple chip.
• Emergency services 
• 24*7 customer support desk 

Epilogue

Do select a trusted service provider for your foreign currency exchange. Remitforex, powered by Unimoni, is the most trusted company approved by RBI, where you can get the best foreign currency exchange. We serve you at 300+ locations across India with well-trained experts. Visit our website, and get a callback for more details. 

FAQs

• How many Dollars can I carry from India when travelling abroad?

There is no limit for carrying US Dollars when travelling abroad. When the currency you are carrying exceeds the amount of $ 5000 to $ 10000, all you need to do is fill up the form of Customer Declaration Form at customs. 

If you’re leaving India with cash foreign currency above this amount, likely, you’ve previously disclosed it; thus, the regulations of India’s customs shouldn’t affect you. 

However, the USD (or other foreign cash) you bring from India may need to be disclosed upon arrival due to foreign exchange regulations in your destination country.

• How much forex can you carry when going abroad for Overseas education?

Suppose you are travelling abroad for overseas education; in that case, you can carry $ 30,000 or up to the limit or estimate provided by your financial institution for each academic year based on the simple documentary evidence indicating the required amount.

• How much forex can you carry when going abroad for work?

You can carry $ 5000 when travelling abroad from India for employment purposes. Carry the employer’s letter of employment for carrying cash from India. 

• How much forex can you carry when you are travelling for medical treatment?

You can purchase foreign currency up to $50,000 based on self-certification to cover the costs associated with your out-of-country medical treatment. Banks will let you release an exchange when more than $50,000 is needed based on an estimate from a hospital or doctor in India or abroad.

You are also permitted to purchase foreign currency notes for each individual up to a maximum of $25,000 to cover any additional costs incurred due to the overseas medical treatment, such as airfare, lodging/boarding, etc.

• Can you preserve forex for future use?

Yes, you can retain foreign currency after a trip till the next journey. But there is a limit to maintaining the currency as it can be up to $ 2000, only in the form of a traveller’s cheque or foreign currency. 

If you have any foreign currency in your possession that is worth more than $2,000, you must turn it into a bank within 90 days of your return. The time frame is 180 days in the case of traveller’s checks. The surplus can also be credited to an RFC(D) account.

• The maximum amount you can be carried from India

The RBI has ruled that an Indian citizen travelling overseas may carry foreign currency up to US $3000 in cash. The total permitted amount for the year is USD 2,50,000.

• What will happen if you carry more than $ 10000?

If you have the correct explanation and documents to be submitted for carrying the amount, you won’t end up in trouble. The customs authorities will only stop things with documents and a reason. Anything over $ 10,000 must be declared both at the time of arrival and departure.