What is an EEFC Account and what are its benefits?
Help & info
What is an EEFC Account and what are its benefits?
Exchange Earners’ Foreign Currency Account (EEFC) is an account maintained in foreign currency with an authorized Dealer i.e. a bank dealing in foreign exchange. It is a facility provided to the foreign exchange earners, including exporters to credit 100 percent of their foreign exchange earnings to the account, so that the account holders do not have to convert foreign exchange into Rupees and vice versa, thereby minimizing the transaction costs.