Indian Rupee – New Rules for NRIs

As a new directive from the Reserve Bank of India (RBI), from now on every non-resident Indian (NRI) and foreigner leaving the country will have to compulsorily change Indian rupees in their possession into a foreign currency before they board the flight. It’s a common practice among NRIs to carry some amount of Indian currency with them when they leave the country, mainly for the convenience of not having to exchange forex into rupee when they return the next time. But from now on, they will not be allowed to carry any Indian notes with them. Although the rule,...

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