Date: Nov 18, 2002

As a measure of further liberalization, it has been decided to double the limit of foreign exchange available to residents for private visits abroad from US$ 5,000 to US$ 10,000 or its equivalent. Instructions in this regard have been issued to the Authorised Dealers and Full Fledged Money Changers.

Applications seeking release of foreign exchange exceeding the above limit, may be submitted to the Regional Offices of the Reserve Bank, through the authorised dealer.

Increase in release of foreign exchange for private visits abroad
A.P. (DIR Series) Circular No.51 (November 18, 2002)