Conversion of account balance
As per RBI guidelines, the sum total of all the credits received in RFC (Domestic) account during a calendar month, less amount utilised, should be converted into Indian Rupees (crystallise) on or before the last working day of the succeeding calendar month after making adjustments for forward commitments (as in the case of EEFC & DDA accounts).
Permissible Currencies for opening Account
- Pound Sterling (GBP)
- US Dollar (USD)
- EURO (EUR)