All Authorised Dealers
In Foreign Exchange,

Dear Sirs,

RELEASE OF FOREIGN EXCHANGE FOR TRAVEL PURPOSE

Attention of Authorised Dealers is invited to the instructions contained in Chapter XVII of the Foreign Exchange Manual read with F.E. Circular No. 38 dated 21st July, 1998, in terms of which they (Authorised Dealers) have been delegated authority to release foreign exchange for travel abroad for various purposes at the composite rate. It has been decided by the Government that, with immediate effect, foreign exchange for all travel purposes including official travel, health, studies abroad, religious travel etc. should be obtained entirely from the open market (i.e. Authorised Money Changers). Accordingly Authorised Dealers are prohibited, with immediate effect, from releasing any foreign exchange for all types of travel