If you’re asking how much forex can I buy in India, the answer is governed by the Liberalised Remittance Scheme (LRS) of the Reserve Bank of India (RBI). Under LRS, Indian residents are allowed to buy and remit up to USD 250,000 per financial year for permissible purposes.

1. Forex Purchase Limit Under RBI Rules

• Maximum limit: USD 250,000 per person per financial year (April–March)
• This limit applies to:
  • Personal travel
  • Business visits
  • Education abroad
  • Medical treatment
  • Overseas investment or gifting
  • Paying for forex courses or online trading platforms abroad

2. How You Can Buy Forex In India

You can buy foreign exchange through:

• Authorised dealers (banks and RBI-licensed money changers)
• Forex cards (prepaid travel cards)
• Traveller’s cheques or foreign currency notes

3. Currency Limits For Travel

If you’re travelling abroad:

• You can carry up to USD 3,000 in cash (or equivalent in other currencies)
• The rest of the forex (up to USD 250,000) can be carried via:
  • Forex cards
  • Traveller’s cheques
  • Bank transfers

For countries like Iraq, Libya, and Iran, the cash limit may vary depending on RBI guidance.

4. Documents Needed To Buy Forex

• Valid passport
• PAN card
• Confirmed travel tickets or visa
• Declaration under FEMA for forex usage

5. Special Cases

• Minors are also eligible for the USD 250,000 limit (via guardian)
• For medical or education expenses, the limit may be extended with RBI approval

Conclusion

If you’re asking how much forex can I buy in India, the maximum limit is USD 250,000 per person per year under RBI’s Liberalised Remittance Scheme. For travellers, USD 3,000 in cash is allowed, with the rest on cards or digital methods.

Want to understand how RBI forex rules affect trading and investing? Join our RBI-compliant Trading Courses at Traders MBA and learn how to manage currency legally and effectively.