Conversion of rupee to foreign currency

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 November 2011 CAN AN NRI TRANSFER MONEY TO A FOREIGN COUNTRY CONVERTING INDIAN RUPEES.

WHAT SOURCES CAN BE TRASFERRED..CAN THE MONEY LYING IN THE NRO BANK ACCOUNT REPATRIATED?

WHETHER MONEY IN NRO ACCOUNT A VALID SOURCE FOR TRANSFER

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
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12 November 2011 No you cant convert since probition to keep foreign currency with you by Fema law...but for legal purposeful you can buy it from authorised distributor like banks