Posted on: 01-12-04 11:05:44
Hi There...!!
I have Indian rupees here in Canada ....
I want to exchange them for Canadian Dollar...
What will be the best source where I get good rates...
Any suggestions will be appriciated....
I don't think you can do that. Except by the "hawala" route, and that is illegal.
But that is AFAIK.
-----------------------------------------------------------------
Diogenes
====================
The Cynic
India requires you to surrender/convert all Indian currency before leaving India.
However, this rule is not enforced abroad.
I know that it is possible to convert INR to USD at any US Airport.
It is another matter that you will get the worst possible conversion rate 
Try converting at an airport.
However, I would suggest you save it for your next India trip 
-----------------------------------------------------------------
"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
why you not ask this to icici or statebank of india in canada.they are able to help you
.
addresses
search :google.ca
Quote:
Orginally posted by pratickm
India requires you to surrender/convert all Indian currency before leaving India.
Maybe amounts upto Rs.5,000 can be taken out and brought back into India. Refer the FAQ below:
http://www.geocities.com/indiancustoms/baggagerule/rbifaq.htm
Just to substantiate the Rs.5,000 limit per person I read up both the documentation on RBI as well as the above site address which I gave above.
At the end of it I am no wiser. An Indian Resident going abroad temporarily is allowed to take upto Rs.5,000 out of the country. But, RBI is silent on whether an NRI or a Foreigner can bring Indian currency from outside India. The presumption seems to be NRI's and Foreigners would bring in only USD.
Daks
I remember that many years back when I flew out of the Mumbai (then Bombay) airport, there was a sign after the customs checkpoint saying that no Rupees allowed beyond this point.
There was also a counter where you could convert any left-over INR to any of the major currencies (USD, GBP, etc.)
At the same time, I remember visting India after living abroad for a year and was going to go back to the US, travel agencies refused to give me USD in exchange of INR because they said I am an "NRI".
As for being an NRI, my understanding is that as soon as a person leaves India for an "indefinite" period of time he/she becomes an NRI.
So anyone leaving on a work permit (like I did) would become an NRI the moment they leave, whereas someone going abroad on a fixed-length tourist visa won't.
Clear as mud ?
-----------------------------------------------------------------
"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
How does an NRI get INR 20 lacs out of India in foreign currency ??
Kindly share legitimate as well as Hawala route . Also is it possible by converting it to gold ??
Manasvi
