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