(i) Export of foreign exchange in any form including currency notes or bank notes, other than foreign exchange obtained from an authorised dealer or authorised money-changer by the person exporting, is prohibited unless it is covered by a general or special permission of Reserve Bank. In terms of Reserve Bank Notification No.FERA 80/89-RB dated 9th August 1989 general permission has been granted to persons in or resident in India to take out of India foreign currency or currencies equivalent to U.S.$2000 held by them for personal purposes (see Note D to paragraph 3E.1).

(ii) A person in India but not resident therein will be permitted by Customs to take out his unspent foreign currency provided (i) the amount being taken out does not exceed the amount that he had declared to the Customs authorities, in form CDF, on arrival in India, or (ii) the amount being taken out of India in foreign exchange is less than the amount specified by the Reserve Bank from time to time for which a declaration in form CDF is required to be made at the time of arrival in India to the Customs authorities.

(iii) Authorised dealers may sell foreign currency notes and coins to travellers proceeding abroad only in conformity with the provisions of Chapter 3 of the Manual. Foreign currency notes/coins thus acquired will be allowed by Customs to be taken out of India on the strength of the relative endorsement made by an authorised dealer in the travellers passport.