CIR. NO. 50/2009-10-RB, DT. 04/05/2010
- Document type
- Circular
- Dated
- Category
- A.P. (DIR Series) Circulars
Release of Foreign Exchange for Visits Abroad-Currency Component
Release of Foreign Exchange for Visits Abroad-Currency Component
2. Authorised Dealers and Full Fledged Money Changers may, as hitherto, continue to sell foreign exchange in the form of foreign currency notes and coins up to USD 5,000 or its equivalent to the travellers proceeding to Iraq or Libya, out of the overall foreign exchange released and full foreign exchange may be released in the form of foreign currency notes and coins to the travellers proceeding to the Islamic Republic of Iran, Russian Federation and other Republics of Commonwealth of Independent States.
3. Authorised Persons may bring the contents of this circular to the notice of their constituents and customers concerned.
4. The directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.
Yours faithfully,
(Salim Gangadharan)
Chief General Manager-in-Charge