The rupee’s sharp decline is likely to drive a further increase in non-resident Indian (NRI) remittances, particularly from the Gulf region
NRI remittances
Latest in NRI remittances
non-resident Indians
NRI remittances to India hit $107bn in FY24: Report
This is the second year in a row expat Indian remittances cross the $100 bn mark
Indian NRIs
NRI bank deposits in India show a trend reversal; sees $1bn inflow in April
Analysts said a considerable momentum was visible in NRI bank deposits in India during FY24, particularly since May 2023
dollar indian rupees
OPEC+ decision could cause Indian rupee to plummet to ₹85 and impact expat remittances
A plunge in rupee value will, however, will be good news for NRIs, especially from the Gulf region, as they can get more bucks for each dollar remitted
expat remittances
Indians living in UAE and Saudi allowed to make payments through UPI
Indian expats can now make UPI payments through the government-backed system while in India or abroad through NRE accounts
expat remittances
UPI payment facility for NRIs: Remittances to India by currency exchange houses set to see big fall
Banks in GCC will also be impacted as the number of remittance transactions could come down significantly with expats resorting to few and large transfers instead of numerous small transfers
currency
Indian rupee predicted to see sharp fall in first quarter to almost 85 per US dollar
The plunge in rupee value is expected to trigger a major spike in remittances by Gulf-based non-resident Indians in the coming months
expat remittances
Expat Indian remittances from Middle East set to surge as rupee totters around 80 against USD
India’s decision to amend certain rules related to the FCRA to allow residents to receive up to $12,644 – up from $1,264 earlier – from their expat relatives without informing authorities is also expected to add to the remittances flow
currency market
Plunge in rupee value to push up remittances from Gulf-based expat Indians
Rupee was trading at 78.05 INR to US dollar and 21.25 INR against AED in the early trading hours on Tuesday
currency market
Indian rupee could fall to 77 against dollar on concerns on FII outflow, high crude prices
Gulf-based expat Indians account for a larger share of NRI remittances to India, which tend to surge whenever the rupee tumbles
currency market
Indian rupee predicted to fall to 76 against dollar on rising dollar index, crude prices
The weakening trend of rupee is expected to lead to a surge in non-resident Indian (NRI) remittances to the South Asian country, as expats can earn more bucks for each dollar remitted
currency crisis
Rising inflation concerns, crude prices and interest rates drag down Indian rupee
A plunge in rupee value is good news for expat Indians – especially those based in the Gulf who send remittances to India
dollar indian rupees
Remittances from the Gulf to India flow fast as rupee falls in value
Indian rupee ended at 75.05 against the US dollar as trading closed on Monday, lower by 187 paise or 2.55 percent from the previous Monday, posting one of its sharpest falls in recent months
currency market
Indian rupee likely to fall, could spur another surge in remittances from Gulf-based Indians
India’s currency is likely to fall in the short-term as US President Joe Biden’s infrastructure spending initiative is likely to raise USD and rising Covid-19 cases in India
expat remittances
UAE-Pakistan remittances grow despite depressed global outflows
The World Bank estimates that global remittances fell by seven percent in 2020, but Pakistan and Bangladesh buck the trend
foreign remittances
Fiscal year-end demand, rising crude prices spook India rupee in the short-term
The rupee exchange rate is predicted to fall, and could reach 75 rupees against the dollar, which could spur higher remittances from the Gulf to India
