At times for verification purposes, the bank may ask for identity proof and address proof. The bank charges a nominal transaction fee. For instance, HDFC Bank provides this walk-in facility to all its NRI clients in the form of NRI banking services. You could exchange your foreign currency in the Indian bank where you have opened a NRO Account. You must declare foreign currency to the Indian Customs authorities using the Currency Declaration Form if you bring more than USD 5,000 cash or its equivalent in another currency or is more than USD 10,000 or its equivalent in any other currency either in cash, a forex card or traveller’s cheques. However, there are a few restrictions imposed on the amount. If you have no clue how to go about doing it, let us look at the various ways of currency exchange for NRIs in India.Īny individual is permitted to bring in foreign currency into India. How to exchange foreign currency when you are travelling to India?
That means Saudi National Bank is sitting on a loss of roughly $1.17 billion on its investment, Reuters calculations show. The UBS offer of 3 billion Swiss francs ($3.23 billion) values Credit Suisse shares at 0.76 francs each, more than 80% lower than the price paid by the Saudi bank. Saudi National Bank bought 307.6 million Credit Suisse shares for 3.82 Swiss francs ($4.11) per share. The Saudi lender, the kingdom's largest by assets, acquired almost 9.9% of Credit Suisse for 5.5 billion riyals ($1.46 billion) last November and is the troubled Swiss bank's largest shareholder.
DUBAI, March 20 (Reuters) - Saudi National Bank's (1180.SE) growth strategy will be unaffected by the reduced valuation on its investment in Credit Suisse, it said on Monday after the Swiss bank's takeover deal with domestic rival UBS (UBSG.S) on Sunday.
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