NRIs may send more money home as rupee slumps

General, News

MUMBAI: The rupee’s slide against the dollar could persuade non-resident Indian (NRI) investors to send more money home as foreign portfolio investors exit.
Inward remittances are set to rise, especially from the Middle East, the US and Southeast Asian countries amid a falling rupee.
“The rupee’s weakening will help increase remittance inflows to India,” said Amit Saxena, CEO and managing director at Unimoni Financial Services, formerly known as UAE Exchange & Financial Services.

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