| Date: |
04-05-2010
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| Notification No: |
RBI A P D (Series)Circular No 50/2009
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| Issuing Authority: |
RBI
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| Type: |
A.P.D.(Series) Circulars
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| File No: |
RBI/2009-10/446 |
| Subject: |
Release of Foreign Exchange for Visits Abroad – Currency Component
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RBI/2009-10/446
A.P. (DIR Series) Circular No. 50
A.P. (FL Series) Circular No. 7
May 4, 2010
To
All Authorised Persons in Foreign Exchange
Madam / Sir,
All Authorised Persons in Foreign Exchange
Release of Foreign Exchange for Visits Abroad – Currency Component
- 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.
- Authorised Persons may bring the contents of this circular
to the notice of their constituents and customers concerned.
- 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
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