FOREX ALLOWANCE

Eligibility for Indians & Foreigners.
Forex can be purchased by only Indians and Foreigners who have a residence permit in India.

Forex is issued under two categories
1. Business travel.
2. Leisure travel.

Under Business Travel
Forex uptil USD 25000/- per trip can be purchased from an FFMC. After Kye details are furnished to us, as a set-up process, per transaction, it is required to provide
(a) LERMS letter from company.
(b) A cheque, DD or payorder for INR equivalent
(c) Travel documents as proof of travel.
(d) For foreigners on residence permit an additional letter from the company as per RBI format.
Under BTQ or Basic Travel Quota
Forex upto USD 10000 per calender year can be purchased from an FFMC on providing the fellowship.
(a) BTQ form filled and signed by traveller.
(b) (as above)
(c) (as above)
(d) For foreigners on residence permit, original to be provided for verification and photocopy to be retained.

Reconversion
Foreigners and Non-Residents who are leaving the country (48 hrs before their flight) if required can get the remainder INR currency converted to the currency of their choice.
However they cannot take out an amount more than what they had orginally brought in.
Before this transaction the following original documents have to be provided and verified copies will be retained.
A) Encashment certificate which has a validity of 3 months from the date of issue.
B) Passport
C) Return air ticket.

Important Notes
1) The ceiling limit on currency notes by the RBI is USD 2000 per trip.
2) It is no longer mandatory to have Forex endorsed on travellers passport.