Reasons to Send Money Home
India is becoming a preferred location for investors all over the globe. Be it investments on a business setup or on real estate property, India is continuing to hold a top position. With a fast-growing country, it makes complete sense to invest as the returns might be beneficial. Either it is a property which you want to own on your name, payment of your educational loan, setting up a small company or just saving up in your NRI account, you would need to send money to India.
In this article we discuss five most common reasons why everyone wants to make an overseas transaction to India:
1. Clearing up your loan payments
2. Saving to purchase a property
3. Saving for a fixed deposit on a good interest rate
4. Sending money to friends or family in need
5. Paying tuition fees for a child or grand child
These are most common reasons, but other reasons are like family emergencies or providing financial support or even giving money for charitable organization in India. No matter the reason, we need to choose the transaction services and the date of transaction carefully. You can refer to our other article on how to choose the best time for money transfer (@best time for money transfer to India) for more details.
USD — INR FAQs
Which is the lowest currency in the world?
Iranian Rial (IRR) is the lowest currency in the world. 1 USD = 42,105.00 IRR as of July 17, 12:23 PM UTC.
Which is the highest currency in the world?
Kuwaiti Dinar (KWD) is the highest currency in the world. 1 KWD = 3.32 USD as of Jul 17, 8:24 AM UTC.
Which is the safest currency in the world?
The Norwegian Krone (KR) has been known as one of the safest currencies in the world as Norway has no net debt. Although, no currency is 100% safe. US Dollar (USD) is known to be the most redeemable currency around the globe.
Why countries keep their currency weak?
Countries keep their currency weak to increase exports, lower trade deficits and reduce the interest payments on central government’s debt in a foreign currency.
Why countries keep their currency strong?
Countries keep their currency strong to reduce the cost of imports, lower the inflation, ease company/service acquisition cost from foreign countries, raise money at cheaper interest rates and improve the quality of life for its citizens.
Google Source : Send Money usd to inr
