Things You Must Know When Carrying Money Abroad

Things You Must Know When Carrying Money Abroad

There are a few important things to know about taking money from India abroad. This year alone, more than 20 million people have left India for foreign trips, and a large number of them are business travelers. If you frequently travel abroad for work, it's important to know what the Reserve Bank of India (RBI) says about how much foreign currency you can take with you. Let's get into the details of how much foreign cash and Indian rupees you can take with you when you leave India for business.

Based on rules set by the RBI, a business visitor can bring up to US$250,000 out of India per trip. This cap used to be US $25,000 per trip, but the RBI raised it in July 2015. If you need more than US$250,000 for your work trip, you will need to get permission from the Reserve Bank of India.

Those who want to know how much Indian money they can take abroad, the cap is Rs 25,000 per year.

It's important to know that you can only take US $250,000 worth of foreign currency out of India for business reasons per financial year. You can use this whole amount on one work trip or split it up and use it on several trips over the course of the year. But the total amount that can be