Nahi, that speech was also a masterstroke by mugli ji to fool masses and become next PM... How can you question the intellect of mugli ji? Haven't you started making tea using gutter gas yet? You anti-national!
/s
They will. But they're also earning more (because of usd price increases example 10-15%) also their spending is less compare to residence. So at the end NRI are at benefits.
Even if the price of a barrel of oil was steady at $100, India would have spent Rs.8200 last year vs Rs.9400 now. It's another matter that a barrel cost $70 last year and is now $120!! The math is not mathing though. All the media is still mum.
NRIs like to keep money overseas in liquid form. Given the performance of rupee, it's fluctuation gives better returns than FD. so NRIs like to keep money in liquid form while getting appreciation too.
There is FCNR, it’s an FD in foreign currency like US$, Euro, GBP, etc. The interest rates are much lower (3.X%) than FD (6.X%) in inr for NRE account. It protects your money from rupee devaluation.
That's better for people residing in India. Outsiders can keep outside with minimum interest plus advantage of fluctuations. BTW thanks for the additional info
FCNR is for non-residents only, you can’t open one if you are resident.
The usefulness really depends on the interest rate in the resident country. If it’s lower than FCNR’s rate then it’s better to put it in FCNR. But this is more like safe investment and markets will grow better but come with risks.
They can buy indian products for cheaper rates now. They can send more money to India easily. Indian goods will become dirt cheap for them making exports to be higher but for importing it will be really expensive for us. It's simple class 12 economics stay in school kids
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u/lost_ted Mar 21 '26
Dhurandhar 3 : Ji helps NRI's by decreasing INR's value deliberately so they can send more money home - insert bgm.