Q62: While FFMCs can purchase foreign currency from residents without limit, what is the maximum limit of foreign currency notes (Cash) that an FFMC can sell to a resident traveler for a private visit to a country (other than Iraq/Libya/Iran/Russia)?

USD 1,000

USD 3,000

USD 5,000

No specific limit, provided it is within the overall LRS limit. [AnswerInfo: 1. The "Cash" Limit: While the overall LRS limit is USD 250,000 per financial year, a traveler cannot take all of it in physical cash notes. 2. The Regulation: Travelers proceeding to countries other than Iraq, Libya, Iran, Russian Federation, and other Republics of Commonwealth of Independent States can purchase foreign currency notes (Cash) up to USD 3,000 (or equivalent). 3. Balance: The balance of the entitlement (e.g., if they want USD 10,000 total) must be taken in the form of Forex Prepaid Cards, Store Value Cards, or Travellers' Che

✅ Correct Answer: B

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Q62: While FFMCs can purchase foreign currency from residents without limit, what is the maximum limit of foreign currency notes (Cash) that an FFMC can sell to a resident traveler for a private visit to a country (other than Iraq/Libya/Iran/Russia)?

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