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RBI Allows Residents to Exchange Rupee Notes at Airport Forex Counters

The Reserve Bank of India has amended its rules to permit residents to exchange Indian rupee notes at foreign exchange counters located in the departure halls of international airports. This facility was previously available only to non-residents. The counters are situated in the Duty-Free Area or Security Hold Area beyond immigration and customs. The central bank has directed authorized entities to inform their customers about this revised facility.

Key Points: RBI Expands Airport Forex Exchange Facility to Residents

  • Expands forex access to residents
  • Applies in airport departure halls
  • Amends Master Direction on Money Changing
  • Counters in Duty-Free/Security Hold areas
  • Builds on earlier non-resident facility
2 min read

RBI expands airport forex exchange facility to residents, amends money changing rules

RBI amends rules, allowing residents to exchange Indian rupee notes at forex counters in international airport departure halls, a facility previously for non-residents only.

"On a review, it has been decided to allow residents (along with non-residents) to exchange Indian Rupee notes - RBI Circular"

New Delhi, April 2

The Reserve Bank of India has allowed people to exchange Indian rupee notes at foreign exchange counters located in the departure halls of international airports, expanding an earlier provision that applied only to non-residents.

In a circular issued on Thursday, the RBI said the decision was taken after reviewing the existing framework governing money-changing activities at airports.

"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 RBI said in the circular.

The central bank added that the existing rules will be updated to reflect the change. "The Master Direction on Money Changing Activities is being amended accordingly," it said.

The RBI also asked authorised entities to inform customers about the revised facility.

"Authorised Persons may bring the contents of this circular to the notice of their constituents and customers," the circular said.

The latest change builds upon an earlier directive that permitted foreign exchange counters in specific areas of international airports to help non-residents convert unspent Indian currency before leaving the country.

According to the earlier circular, "Foreign Exchange Counters in the departure halls in international airports in India may be established in the Duty Free Area/Security Hold Area beyond the Immigration/ Customs desk."

These counters were earlier meant only for transactions involving non-residents. "Such Foreign Exchange Counters will however, only buy Indian Rupees from non-residents and sell foreign currency to them subject to usual terms and conditions," the earlier circular said.

The central bank noted that the directions have been issued under the provisions of the Foreign Exchange Management Act, 1999.

Currently, India's foreign exchange reserves stand at USD 698.3 billion in the week ended March 20, 2026, according to data released by the Reserve Bank of India on March 27, 2026.

- ANI

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Reader Comments

R
Rohit P
Good step for convenience, but I hope the exchange rates at these airport counters are fair. Often they have huge margins. RBI should also mandate displaying live, competitive rates compared to market.
A
Arjun K
Finally! This was a long pending reform. It never made sense that only foreigners could use this facility. Many Indians travel for business and tourism and end up with extra cash. Saves the hassle of finding a forex dealer later.
S
Sarah B
As someone who travels frequently between India and the US, this is excellent news. The process was always a bit confusing. Streamlining these small things makes a big difference in the travel experience.
V
Vikram M
A sensible policy change. It aligns with the government's push for ease of living and travel. Hopefully, banks and authorized dealers will quickly implement this and train their staff. The circular asking them to inform customers is crucial.
K
Karthik V
While this is positive, I wish the RBI would also look at simplifying the entire forex purchase process for residents. The limits and documentation can still be a headache for the average person planning a holiday abroad.

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