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Travel - Currency Regulations

- Regulations are like the traffic rules and guideposts and the road signs that indicate to people using the roads how they should behave.

Any money you wish to convert into Indian rupees should be exchanged only through authorized money changers and banks who will issue an encashment certificate (valid 3 months from the date of issue). The Certificate is required at the time of re-conversion of any unspent money into foreign currency. When leaving India, remember to exchange all rupees back into foreign currency. It is illegal to export or import rupees. You must do this before going through airport customs.
Exchanging of foreign currency other than through banks or authorized money changers is an offense under the Foreign Exchange Regulations act of 1973 and is subject to prosecution.

As a foreigner registered in a hotel you are required by Foreign Exchange Regulations to acquit the hotel bills in foreign currency (not Indian rupees) unless you produce a valid encashment certificate covering the full amount of the bill.

Last updated: Jan 15, 2000 - Quote from Shivarathri Discourse, Prashanthi Nilayam, Feb 28, 1995