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…
Sending money abroad from India, especially to someone who doesn’t have an overseas bank account, can be extremely difficult if you don’t know how to do it. There are only limited options available to send money abroad using alternative means and services to work with your specific situation. This article will outline three easy ways…
In the 19th century, Indians started to migrate to the USA. Tremendous opportunities arose in the mid 20th century, which led to the large-scale migration from India to the US. Indian migrants constitute 6 % of the US population, and the Indian community is the second-largest foreign-born population after Mexico. The total population of Asian…
Currency prices appear to be hitting all-time highs and lows more frequently than ever. Exchange rates fluctuate continuously, causing problems for travelers and foreign enterprises worldwide. But why are currencies so variable? The explanation is rather sensible: supply and demand. The quantity of a commodity, product, or service available and the desire of buyers for…
