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Foreign Exchange Transaction

The High Commission wishes to advise Ghanaian business persons on visits to India that due to the Government of India’s regulations regarding the payment of export goods and Services with foreign exchange, payment of items purchased for exports in foreign exchange cannot be made by forex cash.

All such payments are required by businesses to be settled either by cheque or by telegraphic transfer. Businessmen and women visiting India are therefore to take note and make the necessary arrangements. Alternatively, such business persons could have their transactions billed in the local currency although in such instances relevant taxes would be required to be paid.