Forex limit for overseas travellers hiked

Travellers going abroad can now carry more foreign currency.The RBI has increased the permissible limits for authorised dealers and money dealers selling foreign exchange to people travelling abroad from $2000 to $3000.In a circular issued,the RBI said authorised dealers and full-fledged money changers can sell foreign exchange in the form of foreign currency notes and coins upto $3000 to travellers proceeding to countries other than Iraq,Libya,Islamic Republic of Iran,Russian Federation and other Republics of Commonwealth of Independent States.(BL 05-05-2010)