If the value of foreign currency alone is more than USD 5,000 or its equivalent then also you have to declare it to the Customs Authorities in CDF. So, you must be careful enough while bringing foreign currency to India. If the value of the currency exceeds the limit and you do not declare it to the Customs Authorities then it will be a violation of Foreign Exchange Management Act.
If you are returning to India after travelling abroad then there are chances that you will have foreign exchange with you that was not spent there. In such case, you have to surrender the unspent foreign exchange which you are holding either in the form of foreign currency or traveller's cheque. To know on within how many days you have to surrender the foreign exchange click here.
Bringing Indian currency to India from abroad?
If you have gone abroad on a temporary visit (except Nepal and Bhutan) and returning home to India then the value of INR must not exceed Rs. 10,000 or its equivalent.
Foreign currency you can take for business trip abroad
If you are making a business trip abroad (excluding Bhutan and Nepal) then you can carry foreign exchange up to $ 25,000 of Indian currency with you. Ensure that you inform the Reserve Bank of India (RBI) if you are carrying the foreign currency over and above the limit. Know more here.
If you travelling to India then you must check the value of the foreign currency you are bringing with you. If the value exceeds the limit mentioned above declare it to the Customs.