That's a fair amount of dosh, Jimbo.
Are you in India right now or in the UK?

I always thought that you needed your receipt to change money back from rps to £, but that may just be at the airport.

Polly

Hi Jimbo,

We have gone through a similar thing this year, whilst out there we approached our bank and showed them every piece of documentation possible, we paid a chartered accountant to draw up all the legal documents and proof of not using the money and that we had paid tax on the interest, we took all this back to the bank who then submitted it to RBI for their clearance.
We where refused permission to repatriate the money no reason was given, even the bank was mistified, we have a bank account with the same bank in the UK who gave us advise before we went Goa, so as far as we concerned we had done everything to the letter and more, the only advise the bank could give us was to try again later or go to a money changer apparantley you are allowed through customs with £5000.00 if they ask you why you have all this money you tell them you where going to purchase something but changed your mind. The other option of using a money exchanger is I'm not sure they are legit but there are alot of them.
We have decided to try again next year as we had run out of holiday time but as it happens the exchange rate is far greater there than here in the UK and way things are going interest rates are going to fall again because of the credit crunch.
I will keep everyone informed as to the outcome.
If you want more deatils Jimbo e-mail me

Tush

Can't you go back to the same money changer? They would probably have taken your passport details at the time so should have some sort of record.

Hi Katie,

The money changers are no more than Indian people who make a living out of a form of blackmarket money tradeing.
Our money was transfered from the UK using the same bank eg from our UK account to our Indian account.
We have all the proof in the world how the money got to our Indian account and they can see it has never left the account but it does not make any differance, at this moment in time they will not let us repatriate it.

Tush

Ah, sorry, I misunderstood.

I need to change about 50,000Rs back (decided to pull out of expensive purchase!)

I'll give you £100 for it.
p.s. Plus a bottle of Honeybee.

Last december i bought some indian rupees on ebay. i paid just a little below the normal exchange rate, and the guy that sold them did'n't lose any more than he would have, if he'd gone to the banks etc.
maybe you could put the money on ebay in smaller amounts to ensure you don't a lot on one sale.
there are always people looking for rupees to take with them.
BOB

oh, i should point out, probably the reason the banks won't do anything is that the indian rupee is a closed currency. you are not allowed to take them in or out of india!! so the banks shouldn't have any in thier possesion. neither should any of us, if we're not in india. but we do though don't we???? getting caught with them in your possetion, entering or leaving india, will mean having them conviscated.
BOB

The RBI would not authorise it as, as has been said, you can't take rupees out of the country.

fiona, i draw your attention to my post before last. i bought rupees on ebay in december. they do allow it.
BOB

Find out the exchange rate......Find a fellow tourist with stirling.......exchange with him/her. Or pay commission in the usual places.

Sonofscouse

Hi Fiona,

We are not wanting to take rupees out of India we are trying to repatriate the sterling we put in, like so many others we where led to believe by the developer, solicitors and many others that we could purchase property in Goa legally, however through this forum we found out quite the opposite so we pulled out, now all we want is fair play by RBI who can see what has happened and allow us to get our money back. We have been told of ways to do this through the back door but firstly we want to try and do it legitimately.

Tush

fiona, i draw your attention to my post before last. i bought rupees on ebay in december. they do allow it.
BOB

Everytime this comes up the answer is always....... NO THEY DON'T.

But like you I have bought them here, although not on E-bay ( possibly illegal to sell currency whilst not registered with financial authority).

Have seen reports of and heard of people having rps confiscated at airport.

I think that in common with most things in India, what is legal and what is allowed are not the same thing.

chers del,
glad someone believes me!!!!!
BOB

JPB 396,
you could alays bring them back and offer them for exchange here!

By "here" I hope you don't mean HT. I'm afraid we will not allow that. I'm afraid I'm going to have to lock this as we can not be seen to allow discussions on how to exchange a closed currency. Its been a good thread though for alerting others.