Exchange centers are experiencing a high traffic of money transfers from the USA to India. This is due to the fall in the exchange value of Indian rupee on US dollar which is one of the after effects of Demonetization (1 US Dollar equals 68.52).
NRI’s are transferring money to their families in India in huge amounts now and directing them to invest the same for future. As also the real estate seems to go down due to demonetization, NRI’s are trying to utilize this opportunity to invest their money in India for future benefits.
Though demonetization is currently making the life hard for Indians, it has become a lucky find for NRI’s and their family members in India. Reports say that the high amount remittances have a hike of 200 percent for the last couple of weeks.
