Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) (Seventh Amendment) Regulations, 2025
No. CLE-HO/POL/CIRCULAR/25
15th October 2025
Members of the Council
Sub : Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) (Seventh Amendment) Regulations, 2025
Dear Member
The Reserve Bank of India has issued a notification dated 6th October (copy enclosed) stating the following.
· A person resident in India, being an exporter, may open, hold and maintain a Foreign Currency Account with a bank outside India, for realisation of full export value and advance remittance received by the exporter towards export of goods or services.
· Funds in this account may be utilised by the exporter for paying for its imports into India or repatriated into India within a period not exceeding the end of
· (a) three months in case of accounts maintained with banks in an International Financial Services Centre; or
- (b) next month for all other jurisdictions
from the date of receipt of the funds after adjusting for forward commitments, provided that the realisation and repatriation requirements as specified in the Foreign Exchange Management (Export of Goods and Services) Regulations, 2015, as amended from time to time, are also met.
Members may kindly note the above.
With kind regards
R. Selvam IAS
Executive Director
COUNCIL FOR LEATHER EXPORTS