Forex - Currency Restrictions
Each country has regulations governing what you can and cannot take out of the country. Here are a few that you may not be aware of:
- Travelling outside the European Union
You must declare any sums of cash of 10,000 euros or more (or the equivalent in another currency).
- Travelling to Bulgaria
You must declare sums over 8.000 Lev.
- Travelling to Cuba
Take your money in pounds sterling. The Cuban Peso is the only acceptable currency in Cuba, so whatever currency you take it will have to be changed when you get there. Do not take US dollars. There are sanctions against US companies so the American Express Travellers Cheque should not be taken.
- Travelling to China
You must declare sums over 20,000 Chinese Yuan.
- Travelling to Egypt
You must declare sums over 5.000 Egyptian Pounds.
- Travelling to Australia
Amounts over AUD $10,000 must be declared.
- Travelling to U.S.A
Sums of US $10,000 or over must be registered with customs on form 4790. There is also an embargo on transactions with Cuba, Iran, Iraq, Libya and North Korea, so bringing larger amounts of their currency might be considered a violation.
Remember, these are just a few examples and even these could change. So for up to date import / export restrictions for any country you are visiting please, do not hesitate to contact us.
