Here comes a good news for all Indian travellers going abroad! The Reserve Bank of India now allows the Indian travellers to take foreign currency of up to $3000 as against the existing limit of $2000. “The existing limits have been reviewed and it has been decided to increase this ceiling, with immediate effect,” the RBI said.
Full-fledged money changers and authorized dealers can sell foreign exchange in the form of foreign currency notes and coins, up to US $ 3,000 or its equivalent, out of the overall foreign exchange released. The RBI notification said that the persons going to Libya and Iraq will continue to get up to $5,000 or its equivalent in other currencies while the existing provisions for travellers to Iran, Russia and CIS (Commonwealth of Independent States) countries will remain unchanged.
However, people going to certain specified countries like Iraq, Libya, Iran, Russia and the CIS countries will not be able to avail these provisions. Foreign exchange dealers and money changers can also sell foreign exchange in other currencies other than American dollar up to $3,000.