in Foreign Exchange,
OF DIPLOMATIC MISSIONS INTERNATIONAL ORGANIZATIONS ETC
of Authorised Dealers is invited to the instructions issued
vide F.E. Circular Nos. 18, 19 and 21 dated the 5th July,
8th July and 27th September, 1999 respectively in terms
of which the facility of foreign currency accounts as described
in Chapter VI of the Manual and F.E. Circular No. 25 of
1998 was withdrawn in respect of Diplomatic Missions and
International Organizations etc. Subsequently, some relaxations
were made in connection with opening of special foreign
currency account by them and withdrawal of foreign currency
notes from such accounts.
matter has since been reconsidered and it has been decied
to withdraw all the restrictions imposed vide above mentioned
F.E. Circulars. Consequently, the facility of opening and
maintaining of foreign currency account by Diplomatic Missions,
Diplomatic Officers, and Home Based Staff as also International
Organizations and their expatriate employees under Para
1(a) Chapter VI and F.E. Circular No. 25 of 1998 is restored.
Further, the restriction regarding sale and purchase of
foreign exchange by them in the interbank market imposed
vide the last sentence of Para 9 of F.E. Circular No. 17
of 1999 is also withdrawn.
All the amendments made in Chapter VI and XVI of the Foreign
Exchange Manual, Seventh Edition, 1992 through the F.E.
Circulars mentioned above also stand cancelled.