The Reserve Bank of India (RBI) issued A.P. (DIR Series) Circular No.18 on December 8, 2025, updating rules for the export and import of Indian currency with Nepal and Bhutan. Superseding the earlier Circular No.24 of March 2019, the new guidelines allow any person, except citizens of Pakistan or Bangladesh, to carry Indian currency notes in specific limits. Currency denominations up to ₹2,100 can be freely moved across the border, while higher denominations (above ₹2,100) can be exported or imported up to a total limit of ₹2,25,000. The amendment, notified under the Foreign Exchange Management (Export and Import of Currency) (Amendment) Regulations, 2025, was published in the Official Gazette on December 2, 2025. Authorised Persons are instructed to inform their clients of these updated limits. The circular is issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999, and does not override any other legal permissions or approvals required under applicable laws.
RESERVA BANK OF INDIA
RBI/2025-26/140
A.P. (DIR Series) Circular No.18 Dated: December 8, 2025
To
All Authorised Persons
Madam / Sir,
Export and Import of Indian Currency to or from Nepal and Bhutan
Attention of Authorised Persons is invited to A.P. (DIR Series) Circular No. 24 dated March 20,2019.
2. On a review, it has been decided, in supersession of the A.P. (DIR Series) Circular No. 24 dated March 20, 2019, to allow a person, not being a citizen of Pakistan or Bangladesh, to –
(i) take or send out of India to Nepal or Bhutan, and bring into India from Nepal or Bhutan, currency notes of Government of India and Reserve Bank of India notes for any amount in denominations up to 2100;
(ii) take out of India to Nepal or Bhutan, notes of denominations of above 2100 up to a total limit of 225,000;
(iii)bring into India from Nepal or Bhutan, notes of denominations of above 2100, up to a total limit of 225,000.
3. Authorised Persons may bring the contents of this circular to the notice of their constituents and customers.
4. Necessary amendment has been notified as Foreign Exchange Management (Export and import of Currency) (Amendment) Regulations, 2025 [Notification 6(R)/(4)/2025-RB dated November 28, 2025], which has been published in the Official Gazette on December 02, 2025 (copy annexed).
5. 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
