Current Account Convertibility
Under the present policy all receipts of foreign exchange under the current account both export earnings and inward receipts are fully convertible. As per the present policy of the Government all receipts of foreign exchange, under current transactions, both merchandise exports and invisible receipts, received by exporters and other recipients are required to be surrendered to an authorised dealer of foreign exchange.
The authorised dealer converts 100% of the foreign exchange received into rupee at the free market.
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