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Questions tagged [inr-indian-rupee]

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2
votes
1answer
134 views

How can I exchange a small amount of USD to INR?

My grandma has gifted me 20 US dollars. How can I exchange it for Indian rupees? I don’t have a passport or pan card. I have tried a few forex sites and they asked for a passport but I don’t have a ...
-1
votes
1answer
36 views

Relocating to India and reg remittances

I am relocating back home. I am trying to transfer my tax paid salary saving to a joint ICICI account in which My mother is primary account holder and I am secondary. I will be using money transfering ...
1
vote
2answers
141 views

Bank asking first transfer to be a wire transfer to NRE account

I have opened an NRE account with IDFC Bank. They are asking me that my first fund should be transferred directly from my US bank account (possibly through wire transfer). Is there any rule like this ...
1
vote
0answers
11 views

Transfer money from US checking/saving account to NRE account [duplicate]

I want to transfer money from my US saving/checking account to Indian NRE account. How can I do it? Will transferring directly from my US account to bank account will give me best rates? or Should I ...
5
votes
3answers
733 views

Cash out mutual funds or stay invested? Risk aversion choice

I am from India. Stating this upfront to focus on Indian context , while the question is generic in nature and would like to get a wider response By way of background I am in late fifties , retired ...
2
votes
1answer
923 views

Filling the W-8BEN Form as an Indian Student

EDIT : So, I also opened a thread in Topcoder's Forum and I filled the "Reference number" field as "-" and in the tax treaty section, I just filled my country and all the other boxes were filled with "...
0
votes
1answer
38 views

Mutual fund investments in India to be reported in USA. What's the limit of amount to be reported?

While filing tax return in USA, the income earned in India, which months to be considered? After December will the gains earned in India be considered for next FY income? Means from December to March ...
3
votes
4answers
174 views

Fees for using mastercard/Visa card at a place which accepts payment in other currency

I want to know what are the fees involved when we pay online using Visa/MasterCard to a service which accepts payment in some other currency. I have very little knowledge related to this. I am from ...
1
vote
0answers
399 views

Logistics of Hedging INR investment with USD INR future

I am a beginner so please forgive any gaps in my understanding of Forex Futures. Based on RBI's decision earlier this year to let NRI's invest in rupee futures I want to propose a Currency Futures ...
0
votes
0answers
27 views

Converting INR fellowship money to USD

I am a US citizen, and have been awarded a fellowship that pays a lump sum of 300K INR. While I expect to spend some of that money when physically in India, I also have related expenses that need to ...
0
votes
1answer
71 views

Transferring money from the US to India after students visa is over

I am an F-1 student in the US. I am going back to India when my studies get over in a month. I have around 25000 USD in my bank account. I need to carry that amount to India, but I don't have anyone ...
1
vote
3answers
520 views

Best way to invest around 50k Indian rupees and save Tax

I am a 27 year old from India, My salary is 4,20,000 per annum. I don't have any insurance or any other investment plan right now. I want to invest 50,000 Indian rupees, such that I get a good ...
1
vote
2answers
230 views

Interest Rate Arbitrage - Pay off loan

I am planning for interest rate arbitrage to pay off my education loan in India at 11.25% interest rate using a personal loan at 3.9% interest rate from an European country where I work drawing ...
1
vote
1answer
2k views

Can i have NRE accounts without OCI card?

I was Indian Citizen and I have NRE accounts in India. I recently became US citizen but I don't have OCI card yet. So the period between acquiring US citizenship and getting OCI card is 3-4 months. Am ...
1
vote
1answer
2k views

Transfering money from NRE account in India to family member

I am a US citizen and I want to transfer some amount 10 lakhs+ to my brother from my NRE account in India to his account. My brother is going to purchase something for his business. He is going to ...
1
vote
1answer
2k views

How to bring NRO money from India to UK

I have several rupee insurance policies that are maturing soon, and I have NRE and NRO accounts in India. I live permanently in the UK and looking at ways to bring the funds over. My Indian bank ...
2
votes
2answers
1k views

What is a correspondent bank?

I want to transfer $500 to my son in the USA. I'm using the online Internet facilty of ICICI bank, Hyderabad through the "money2 world" option. In spite of my filling all the details like the account ...
3
votes
1answer
108 views

How do resident foreign currency accounts in India work?

I live in India, and I'm considering opening a resident foreign currency account, to receive dollars from outside India. Is the balance (in dollars, say) automatically converted to rupees when I try ...
1
vote
1answer
80 views

Do I need to pay taxes in India?

I am working on a two months of independent In-house corporate photographer with a US company. I came here on Business Visa and I should had to open local bank account because the company is only ...
3
votes
1answer
477 views

Which is better for USD payment for Indians : Wire Transfer or Cheque?

I am about receive some reimbursement of ~1000 US dollars. I live in India, whose currency is INR. I have the option to receive the money in form or cheque or wire-transfer. Which of the two mode of ...
1
vote
1answer
1k views

Converting Euro to Rupees in India

I saved 1000 Euros during my internship in France, and brought them back to India in cash. It has been a year since then, and I want to deposit it in my bank account now. I was told by the bank that I ...
4
votes
1answer
475 views

Do I have to pay tax on hand-money(USD) which I brought from US to india?

I am not getting answer of this very normal question on the internet. I was working in the US as salaried employee and as per day count I was NRI for rear 2013 and 2014, and I paid full tax on all ...
1
vote
1answer
404 views

How can I send money to someone from India to Pakistan?

I've one friend in Pakistan who did freelance work on a website project. So, I have to pay him for it. But unable to find any gateway.
1
vote
3answers
23k views

Where should I exchange INR to USD, in India or US?

I am Indian, permanent resident of the US. Years ago, I had loaned some money to my father in India and he now wants to pay it back to me. The amount is worth $300,000 and I am thinking of the best ...
1
vote
2answers
47 views

Are there any hedged international funds in India?

I live in India, and want to diversify into the foreign equity market, via a mutual fund offered in India. But I don't want to take on the currency risk. In some countries, funds are offered that ...
0
votes
3answers
269 views

What fraction of one's portfolio is safe to invest in a single mutual fund?

Is there a limit on the fraction of one's portfolio that is safe to invest in a single mutual fund? The risks I'm concerned about are the fund manager making bad decisions and the fund not generating ...
3
votes
1answer
139 views

Best way to do savings in India?

I have started to earn a year ago. All my funds are currently in banks. Is there any better way save money than leaving it in a bank account?
1
vote
1answer
2k views

I want to exchange UK Pound for Indian Rupee [closed]

I have a friend in London, recently he has sent a parcel for me including some pound (England Currency ) in that parcel, now how can I exchange it into Indian Rupee ??
1
vote
1answer
87 views

HKD safe for business?

I having been charging my client in USD for last few months. Recently client suggested paying me in HKD. Is HKD a good option as compared to USD when receiving funds? My Native Currency is INR.
1
vote
1answer
717 views

My salary from Dubai to India in INR ; taxable or not

I am working in dubai since 3rd may 2013 to till date and receiving my salary in INR in India in ICICI Saving account. I have not filled my ITR. I wish to know : Can I fill my ITR now and what is ...
3
votes
1answer
586 views

Selling my earned dollars to someone in US for rupees in India

I am working in US as a resident alien. I have few dollars in my bank account in US. If I give some dollars to a friend in need in US and he deposits equivalent amount in Rupees in my Indian bank ...
0
votes
2answers
325 views

How to Receive US Dollars for my savings account

I'm Planning to open-up a small consulting firm in india. I need to know is there a way to open up an US bank’s account in my name in USA, without being physically present in US or visiting US? I'...
2
votes
1answer
3k views

Invest as dollars in India

I resides in India (currency:Rupees).I have my payment from a US based company in dollars.They sent me the amount via Paypal.Paypal converts the payment to rupees while transferring to my Indian bank ...
1
vote
2answers
8k views

Is it legal to have a Savings account in india while I am working in the US

I have been residing in the US since 2012. I have recently started working for an employer since 2014. I have three related questions. Due to lack of due diligence on my part, I missed couple of ...
1
vote
1answer
349 views

Investment Newbie - Options in India - For $10K - for 10 years

What are the investment options in India for a newbie like me. I would like to start with 500,000 INR. (5 lacs / roughly $10K). Its for a long term. I don't need this amount for 10 years. Low to ...
3
votes
1answer
8k views

Tax implications on money transferred to NRO account

Here is the situation - my wife and I are based in UK. I have NRO/NRE account in India. My wife has remitted some money to my NRO account in India. Can the forum please help me with the following? ...
16
votes
4answers
4k views

Do banks give us interest even for the money that we only had briefly in our account?

My father has just deposited ₹95,000 in my savings bank account with Indian Bank that I have to pay as fees to my university. I was thinking of paying the fees 1-2 days later, as I will get interest ...
1
vote
2answers
2k views

US tax for a resident NRI

I am a recent resident and filing for my taxes. However I have investments in India (stocks and real estate). I would like to know since I am paying taxes for those investments in India, would it be ...
4
votes
1answer
3k views

Do I pay tax if I convert INR to CAD to use in Canada

If as a Canadian resident, I hold an NRE account with an Indian bank and i transfer money earned in CAD to this account. The I earn interest in rupees and want to transfer back to CAD. The interest is ...
4
votes
2answers
93 views

Capitalize on a falling INR

Recently the INR has taken a beating. As an Indian retail investor, is there a way to capitalize on this? Assuming that the person is not in the export business. They are a salaried person earning ...
0
votes
1answer
602 views

I need to pay for Domain Name in USD - How do I make payment in INR

I want to buy a domain name from eurodns website. How can I pay money to them when I have only Indian currency(INR). i.e how to convert my money to USD. Thankyou in advance.
8
votes
2answers
472 views

Should I do my budgeting in dollars?

I'm from India and earn in Indian Rupees. Should I do the math on my finances in USD? The reason I ask this question is because INR lost value recently - quite a bit. So, for example, would it be ...
1
vote
1answer
2k views

Hedging a foreign currency purchase (INR/USD) for a real estate transaction?

I'm looking to purchase a property in India, where the local currency is INR. My earnings are in USD. My down payment on this property will be in the range of 100-200k USD. The USDINR exchange rate ...