Airport Cash Limit: After the Covid restrictions are removed in the majority of the countries, tourists intend to travel overseas. Perhaps you are considering taking a holiday and visiting a foreign country. Anyone who travels abroad, including me, always carries a sizable amount of cash with them.
Financial Uncertainties of Travel
Not sure how much money or when it will be needed. Travellers try to carry as much cash as possible to avoid these unwelcome situations, but there is a limit on how much cash you can bring when travelling overseas. The Reserve Bank of India‘s Liberated Remittance Scheme states that travellers from India are only permitted to carry up to Rs 1.89 crore.
Foreign Currency Allowance
With the exception of a few nations like Nepal and Bhutan, travellers are permitted to bring up to $3000 in foreign currency with them on each trip. In the event that you need to carry more money than this, store value cards, travel checks, and banker’s draughts are acceptable forms of payment.
Re-entry with Indian Currency
An Indian tourist can return to India with Indian currency notes if he took a short trip to any nation other than Nepal or Bhutan. But bear in mind that this sum shouldn’t go over Rs. 25,000. When it comes to Nepal and Bhutan, it is prohibited for anyone to travel there with Indian government or Reserve Bank of India bills valued at more than Rs 100.
Unlimited Foreign Currency Entry
When visiting India from overseas, a person is allowed to bring an unlimited amount of foreign currency. However, if the foreign exchange you carry in the form of cash, banknotes, or traveler’s checks exceeds $10,000, the airport might take appropriate action. When they arrive in India, they must present the Currency Declaration Form (CDF) to the customs officers at the airport.
Cash Usage for Purchases Under Rs 50000
You can use cash in rupees to purchase items worth less than Rs 50,000 in order to travel overseas. However, if the total amount of foreign currency is greater than Rs 50,000, payment may be made in full using a credit card, debit card, pay order, crossed cheque, banker’s cheque or pre-paid card.
Return of Travellers’ Checks and Currency
It is mandatory to return travellers’ checks and currency after they return from a foreign trip. Foreign exchange returns typically need to be made 180 days after the date of return. Travellers may, however, retain up to US$2,000 in foreign currency as a cheque for upcoming needs.
International Credit Card Usage
Use an international credit card if you are among those who spend money carelessly. You will always be required to pay a transaction fee of Rs 90-150 in addition to the conversion charge when making a payment through this. However, using cash saves a lot of money.