The United Arab Emirates (UAE) and India share an extensive economic relationship, facilitated by an expatriate population of 3.7 million Indian nationals residing in the UAE, alongside a consistent influx of tourists and businesspeople. However, this connection also necessitates an understanding of the respective countries’ regulations on currency transportation. Recently, several instances have been reported of arrests due to non-compliance with these rules.
Currency Rules for Travelers to the UAE from India
Indian regulations, as defined by the Reserve Bank of India (RBI), restrict the amount of foreign currency an individual can carry when traveling abroad. According to the central bank, travelers from India to the UAE or most other countries can purchase foreign currency up to $3,000 (approximately Dh11,000) per visit. However, Non-Resident Indians (NRIs) have the leeway to carry larger amounts in the form of store value cards, travelers’ cheques, or banker’s drafts.
Specific exceptions are made for certain countries. For example, individuals traveling to Iraq and Libya can carry foreign exchange up to $5,000 per visit. Moreover, people flying to Iran, Russia, or any of the Commonwealth of Independent States can carry foreign exchange up to $250,000 in the form of foreign currency notes or coins. Indian nationals visiting for Haj and Umrah can also carry $250,000 in cash.
Currency Regulations for Travelers to India
RBI regulations stipulate that a resident of India, who has traveled abroad, may bring in Indian currency notes of up to an amount not exceeding Rs25,000. Meanwhile, individuals from Nepal or Bhutan can bring rupee notes in denominations not exceeding 100 rupees.
As for foreign currency, there is no limit for individuals entering India. However, if the aggregate value of the foreign exchange in the form of currency notes, bank notes, or travelers’ cheques exceeds $10,000 or if the value of foreign currency alone exceeds $5,000, it must be declared to the Customs Authorities at the airport on a Currency Declaration Form (CDF) upon arrival.
Understanding and abiding by these regulations is crucial for travelers to avoid unexpected legal complications, which could have severe implications.
Important Information Table:
|Foreign Currency Limit per Visit (From India)||Foreign Currency Limit per Visit (To India)|
|$3,000 (For most countries)||No limit (Declaration required if exceeds $10,000 in total or $5,000 in currency notes)|
|$5,000 (For Iraq and Libya)|
|$250,000 (For Iran, Russia, CIS, Haj and Umrah)|
|Indian Currency Limit per Visit (From India)||Indian Currency Limit per Visit (To India)|
|Not allowed (Except for Nepal and Bhutan, denomination not exceeding 100 rupees)||Rs25,000 for Indian residents returning from abroad|