The current account is concerned with a country’s money inflows and outflows over a year. Trading operations (export and import of products and services) and financial transfers cause this inflow/outflow of money. It’s one of the two accounts that make up the balance sheet. The actual transactions in the current account are referred to as...
More Indian students are choosing Germany as their top overseas study destination. Have you considered why they enjoy Germany? Germany is one of the world’s most progressive countries, having a fantastic location. Many student-friendly regulations exist in Germany. The best thing about Germany is that most of its universities are public institutions, so students can...
USD to INR Exchange Rate History? The US dollar is the most widely used money in the world. The value of other currencies in the worldwide market is determined by the value of the US dollar, which is considered the benchmark currency. The US dollar is also one of the most widely utilised international investment...
Liberalized Remittance Scheme (LRS) allows Indian residents to remit funds from India to abroad up to $250,000 per financial year (April 1 – March 31). You can do this by making multiple transfers throughout the year. However, you need to be careful and ensure that your cumulative transfers don’t exceed the quota at any point...
In simplest terms, foreign exchange rates are determined by market forces of demand and supply and have their basis in the supply and demand of the currency you intend to buy or sell. Whenever you need to buy or sell foreign currency in India, you’ll find that the exchange rates vary quite widely between different...
As an Indian going to study abroad, opening an overseas bank account is one of the first steps to settling into your new life abroad. But what’s the difference between a regular bank account and an overseas bank account? Do you need to open both? How do you go about doing this? This article will...
