Travelling can be stressful in a lot of ways. One of the ways to ensure a hassle-free journey is to familiarize oneself with the cash limits and declaration requirements imposed by the respective authorities. By staying informed and abiding by the regulations, travellers can enjoy their ventures without any unwanted interruptions, ensuring a smooth passage to their destination.
Carrying cash while travelling might sound typical, but recently, many incidents of individuals being detained for carrying large sums of money, including millions of dirhams and Indian rupees, have raised questions about the permissible limits and the prudent amount of cash to carry.
Permissible Amount
According to the Reserve Bank of India's website, visitors to the UAE and most other countries are permitted to purchase foreign currency up to USD 3,000 per visit. However, Non-Resident Indians (NRIs) have the flexibility to carry larger sums in the form of banker's drafts, store value cards, or traveller's checks.
Indian residents returning from abroad are allowed to bring back up to INR 25,000 worth of Indian currency notes, as specified by the RBI. However, travellers from Nepal or Bhutan are restricted to rupee notes with a maximum denomination of 100. For visitors from outside India, there are no specific restrictions on the amount of foreign currency they can bring into the country.
Different Rules for Different Destinations
Different rules apply to specific destinations. Travellers to Iraq and Libya, for example, are allowed to bring USD 5,000 or its equivalent in foreign currency per visit. Meanwhile, individuals heading to Iran, Russia, or the Commonwealth of Independent States can withdraw up to USD 250,000 in foreign cash in the form of currency notes or coins, as stated on the apex bank's website.
It's crucial to note that if the total value of the foreign currency, including currency notes, bank notes, or traveller's checks, exceeds USD 10,000 or its equivalent, or if the value of the foreign currency alone exceeds USD 5,000 or its equivalent, it must be declared to the customs authorities in the Currency Declaration Form (CDF) upon arrival in India. However, Indian citizens travelling for Hajj and Umrah are permitted to carry up to USD 250,000 in cash.
A recent incident involving a traveller to Dubai serves as a reminder of the importance of adhering to these regulations. The individual was detained at the Mumbai airport after customs officers discovered more than Dh 1.42 million in cash hidden in his bag, as reported by the Indian media.
Cover photo credit Deposit photo
