Foreign Exchange Services in Delhi NCR

TravelSpider is one of the best foreign exchange companies in Delhi NCR which deals in money exchange service in Delhi.

Foreign Exchange is one of the most critical requirements for a traveler. We are the licensed money changers in Delhi and can cater to any foreign exchange requirement within 2-3 hours of the request.

Basic Travel Quota

With effect from June 1, 2000 resident Indian citizens including infants are allowed to receive Foreign Exchange not exceeding US $10,000 or its equivalent in aggregate, in one calendar year for one or more personal visits abroad (except to Nepal and Bhutan) as against the quantum of exchange allowed under BTQ (para 10 of FLM).

Forex under Business Visits

Eligible travelers

• Those sponsored by firms / companies / organizations in India
• Journalists deputed on short term assignments abroad by Newspapers / Journals
• Self - employed professionals like Solicitors, Chartered Accountants undertaking visits abroad in connection with their profession

Documentation

The traveler is required to produce a letter in duplicate from the sponsoring firm / company / organization or by himself / herself in the case falling under (c) above. The letter should cover the following points:

• Name, address, nationality and Passport no. of the traveler
• Duration and nature of visits to each country
• Amount of exchange required (not exceeding the quantum indicated below)
• Certificate that the expenses are being borne by the sponsor or by the traveler in the case falling under (c) above

In case requested as Special Allowance, the required documents are indicated below:

The letter should include declaration that the traveler is a Chief / Senior Executive in their organization (indicating his / her designation) and that he / she is entitled to draw exchange at the Special Scale as per the rules of the organization. The original letter and duplicate should be retained for your records.

Quantum Of Exchange

Maximum of US $ 25000 on an general Scale up to US $ 350 per day or Special Scale for Chief / Senior Executives like Chairman, Managing / Executive Director, etc is up to US $ 500 per day

Entertainment Allowance

Eligible travellers

• Chief Executives of Export / Trading / Star Trading Houses - not exceeding US $ 5000 per trip
• Officials of other firms / companies etc. - not exceeding US $ 2000
• travellers proceeding to Islamic Republic of Iran, Russian Federation and other with Foreign Currency Notes and coins up to their full entitlement; if the traveler so desires similarly exchange up to two weeks can be drawn in the form of Foreign Currency Notes and Coins
• Sponsored by Trade Bodies such as Chamber of Commerce

Documentation

Letter in duplicate from the sponsoring Firm / Company / Organization covering the following points:

• Name, address, nationality and Passport no. of the traveler
• Duration and nature of visits to each country
• Amount of exchange required (not exceeding the quantum indicated below)
• Certificate that the expenses are being borne by the sponsor or by the traveler in the case falling under (c) above

In case requested of Special Allowance the required documents are indicated below:

• The letter should include declaration that the traveler is a Chief / Senior Executive in their organization (indicating his / her designation)
• He / she is entitled to draw exchange at the Special Scale as per the rules of the organization

Quantum Of Exchange

Up to US $ 300 per day per person for a period.

Business Visits against Foreign Hospitality

Documentation

Letter in duplicate covering following points:

• Name, address, nationality and passport number of the traveler
• Country of visit and period of stay
• Name and address of the host
• Purpose of visit
• Documentation evidence in support of full hospitality

Quantum of Exchange

Up to US $ 500 if the visit is for a period not exceeding 10 days. If the period of visit exceeds 10 days, US $ 50 per day up to a maximum period of 45 days.

Other Conditions

• The sale of Foreign Exchange is required to be made on personal application and identification of the traveler
• While issuing travellers checks, the traveler is required to sign the checks in the presence of the authorized official
• The foreign exchange is sold after verifying the passport and passage ticket held by the traveler
• The sale of foreign exchange is required to be endorsed on the passport of the travellers. The stamp should indicate BTQ / Business Visit as the case may be over the stamp and signature of the office releasing foreign exchange
• The traveler can also draw foreign exchange towards BTQ with the business exchange for the same visit