All
Authorised Dealers
in Foreign Exchange,
Dear
Sirs,
RELEASE
OF ROREIGN EXCHANGE FOR TRAVEL PURPOSES
Attention
of Authorised Dealers is invited to F.E.
Circular No. 45 dated the 1st September, 1998
in terms of which foreign exchange for all travel purposes
was to be obtained entirely from the open market.
It
has been decided that effective March 31, 1999 this temporary
restriction will stand withdrawn and foreign exchange for
all travel purposes, including official travel, health studies
abroad and religious travel, and permissible vide Chapters
XVII of the Foreign Exchange Manual
may again be sold by the Authorised Dealers at the composite
rate of exchange, subject to strict compliance with the
instructions laid down in the aforesaid Chapter. It may
please be noted that foreign exchange for studies abroad
is to be released at the composite rate from the effective
date of this Circular, only for fees and other expenses
becoming due for payment on or after the 31st
march, 1999.
