New Delhi: In a significant development, the Reserve Bank of India (RBI) has allowed residents as well as non-residents to exchange Indian rupee notes at foreign exchange counters at departure halls in international airports established in the Duty-Free Area or Security Hold Area beyond the immigration or customs desk.
Prior to the RBI release, foreign exchange counters were only allowed to purchase Rupee from non-residents and sell foreign currency to them.
“On a review, it has been decided to allow residents (along with non-residents) to exchange Indian rupee notes at foreign exchange counters at the departure halls in the international airports established in the duty-free area or security hold area beyond the immigration or customs desk,” the Reserve Bank of India (RBI) said in its release.