The Reserve Bank of India, through A.P. (DIR Series) Circular No. 04 dated April 2, 2026, has amended its instructions governing money changing activities at international airports. The key change allows residents, in addition to non-residents, to exchange Indian Rupee (INR) notes at foreign exchange counters located in departure halls within Duty-Free Areas or Security Hold Areas beyond immigration or customs checkpoints. Previously, such facilities were primarily accessible to non-residents or subject to restrictions. This policy revision enhances convenience for outbound Indian travelers by enabling last-minute currency exchange after completing airport formalities. The amendment updates the Master Direction on Money Changing Activities and is issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999. Authorised Persons are directed to inform customers and stakeholders about this change, ensuring wider awareness and smooth implementation.
RESERVE BANK OF INDIA
RBI/2026-27/05
A.P. (DIR Series) Circular No. 04 | Dated April 2, 2026
To
All Authorised Persons
Madam/Sir,
Memorandum of Instructions governing money changing activities — Location of Forex Counters in International Airports in India
Please refer to Paragraph 3 of A.P. (DIR Series) Circular No. 45 dated September 16, 2013, on the above subject.
2. 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 Master Direction on Money Changing Activities is being amended accordingly.
3. Authorised Persons may bring the contents of this circular to the notice of their constituents and customers.
4. The directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.
Yours faithfully,
(N Senthil Kumar)
Chief General Manager
