Do you know that you can actually block exchange rate in advance if you have remittances to India in future and also get a rate better than the ongoing rate for amount as low as $ 40000 or AED 145000 or Rs 20 lacs?
YES it is possible!
NRIs have payments to India on various fronts:
• EMI for property purchase
• Property down payment or future payment plan
• Any other planned future remittances
Just to give you an idea, if the ongoing USD/INR rate is 55. And if you have payment to block for the coming 3 months, you can book it today at a rate of approximately 55.80, with a deposit as low as $1200. You simply wait for your remittance date. On that day whatever may be the exchange rate, you will effectively get to transfer money at 55.80.
Is it wise to book it?
We believe YES.
• Though the growth of world is over subdued, Asia is comparatively better. India still is giving a growth of 5-6%
• Weak rupee is certainly supporting our software exports to US and Europe and keeping us competitive. A small pop up in growth in these countries will strengthen the rupee.
• In our view, NRIs are getting property in Indian currency at a discount of more than 10% on rupee depreciation, and if they are buying now with payment plan, it is prudent to lock in the rates.
How can you do it?
Simply drop an email to firstname.lastname@example.org
or call +971505598461, +97144230797.
We will advice to best of our knowledge to hedge your risk.