Silly question !

[nikkyraj]

Hi Guys,

I am planning to visit India soon and i have a question in mind if someone can help.
Every time, over the course of 10 years, whenever i came back from India i put the left over indian rupees in a box hoping to take it back with me and use it in India, which did not happen. Some of that money is my own and some which the relatives have given over the years as a farewell ( you know the drill ) !

I checked the other day and to my surprise i have accumulated approx 1 lakh indian rupees, which is not any good to me here in the UK, and i thought that i can take all that to India this time and use it there. I have just found out that i can legally take only INR 7,500 with me in cash legally without getting hassled by customs and immigration. According to it, i can take upto USD 5,000 in cash without declaring, but not more than INR 7,500. (reference- customs website of India).

Now my question is that how can i take that indian currency over to India ? I dont want to carry all that money in cash, is there any way i can change it to pounds and then change them back to indian rupees when i get to India ? Or can i use that indian money to get like a travellers cheque and then cash it in India ? Or can i use western union or moneygram and send the indian rupees to my uncle, whom im visiting and he can collect it for me, and i can use the money when i am in India.

Oh - and i am a british citizen with OCI, so would be classed as a tourist according to the Indian customs website.

Any suggestions would be helpful.

Thanks.

[vinny]

Split up the amount for your next visits.

[ban.s]

As indian rupee is not a fully convertible currency, it's not legal for a non resident or foreigner to carry indian rupee outside india. this policy is not strictly enforced at the indian borders. it's also not possible to purchase indian rupee from foreign exchange dealers outside india (atleast legally in retail terms).

also see a recent circular from RBI reinstating this requirement.

http://www.rbi.org.in/scripts/BS_PressR ... prid=29588

[z18runway]

cant you convert the money through bureau exchange ?

[EUsmileWEallsmile]

It's not a silly question and it would appear that your money has depreciated significantly over the years.

It is possible to trade Indian currency abroad, though possibly not formally, though I would suspect that one would do so at a loss.

[nemo999]

Split your money with Indian friends and family if they need it (so that they can use it there) in return of equvivalent GBP / USD..simple

Advertise on gumtree if you like..and dispose it off in small chunks....10K to one person (i.e. about £100).