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The Reserve Bank of India has allowed residents and non-residents to exchange Indian rupee notes at foreign exchange counters located in departure halls of international airports outside immigration or customs checkpoints, according to PTI. Earlier, such counters were only allowed to buy Indian rupees from non-residents and sell foreign currencies to them. “After review, it has been decided to allow residents (along with non-residents) to exchange Indian rupee notes at foreign exchange counters in departure halls of international airports established in the duty-free zone or security control area outside the immigration or customs office,” the RBI said in a circular. The central bank added that the main guidance for money change activities is being amended to reflect this change.
