Foreign Currency Limit - India

[AHP]

Hi,

Can somebody familiar with the forex rules and regulations in India please tell me how much foreign currency (cash) I can carry when I first go to Canada from India. Also can I carry extra in the form of a forex card ? Are there any RBI limits I should know of ?

Thanks

 

[Bryanna]

The amount of foreign currency you are allowed to carry abroad depends on the purpose of your visit. Tourism, business, medical treatment or studies?

 

[AHP]

Sorry I didn't make that clear. I have received the Canadian PR and am travelling there as an immigrant.

 

[Bryanna]

RBI allows a maximum of USD 100,000 as foreign exchange per calendar year. For example: For a family of three persons who are immigrating, this would mean USD 300,000. You'll need to fill Form A2 + a self-declaration.

It would be best to transfer the funds between your Indian and Canadian bank accounts.

BTW if you bring more than CAD 10,000 then you must declare it to border officials when you arrive