As a NRI Should I Keep My Savings As Dollars Or Rupees ?

[@dolikapandey5425]

I was looking for this answer everywhere and nobody was able to explain this as clearly as you . Kudos to you for this financial education series

[@NRIMoneyClinic]

Thank you so much for your kind words. Please subscribe and keep sharing the videos

[@prashanttiwari3884]

If it's clear than tell what should do if person wants to retire in india .. on intrest it's 30% tax

[@nabilzan]

@@NRIMoneyClinic After keeping it in USD in Indian bank , could I take it as RS easily whenever I need?

[@nabilzan]

@@NRIMoneyClinic can we take the money and use in India if we need from FCNR account ?

[@dr2767]

Very Nice and crisp explanations. To add some points, even when US inflation exceeds that of India, RBI always has a policy to manipulate to make the rupee weak because they can keep selling INR and buy USD while they cannot do the other way around. So INR appreciation is almost not allowed except for a brief period until RBI intervenes. Secondly, once you start investing in India Income tax guys will start haunting you like a criminal asking questions on 6 to 7 year old investments multiple times and take all your time attending their summons and paying to auditors. From my experience it is better to invest outside India and keep limited investments in India to live a peaceful and respectful retirement life preferably as NRI. Even real estate investment returns for the past 10 years is insignificant considering the rupee depreciation, low rental rates compared to other countries though this is for a specific period.

[@southern-sunshine]

Most underrated comment. What you say is 100% true

[@letuskonnect2591]

Crisp summarized!👌

[@kvkiyer1977]

Very well said!

[@RRD111]

recently Indian IT asked me how much interest rate I got on some FDs six years ago

[@dilipupadhyay516]

Very good advice about keeping dollars or covert to INR. Thank you.

[@SSModi852]

Good detailed info on this question. Every NRI struggles with this. I have been lucky to keep all cash in USD.

[@ksquareonline2836]

Indian Ruppee has as a trend always declined over last three decades, Gr8 Advice sir.. Please keep up the good work.

[@vithalbhaisheladia7533]

thank you. Very informative. You made very clear. It is just like it is effecting you personally. Thanks!!!

[@donbon9770]

Good analysis !! The speaker, has clear vision and clarity. I subscribed for this portal. Regarding INR, in coming 1 year, it will appreciate verses US $. Or at least stay at par, as at present.

[@shajiruby2346]

Fantastic,Comprehensive hitting the nail on its head.

[@jayaramarunachalam3638]

Excellent presentation for NRIs. Very clear. All aspects considered. Thank you

[@NRIMoneyClinic]

You are most welcome. Please subscribe and keep sharing the videos

[@saibalmajumdar74]

I have seen dollar for Rs 5,50 and , I see now a dollar going for 73/74 INR. The trend was never in favor of Rs, nor it is now. Guy talks about if the inflation in India goes to two percent, and US inflation climbing to 6%, I will say that is a most unlikely scenerio. Only for two years ( 1979 and 1980) US inflation touched double digit, and for last few years inflation is below one pecent, and average US inflation has been less than 2% in last 50 years. India on the other hand always average 6 to 7% inflation and peak 27% this year due to the pandemic. So friends, I will never bet on Rs, for me dollar is the safest investment. It's your money, you can decide for yourself.

[@sunnychirayil353]

To your question about inflation and Indian rupees position in the coming six months. , Dollar will strengthen and rupee will loose , again my speculation is rupee will position around $1 = Rs 74 , 75. Thanks

[@saromaliga5937]

Thanks a lot for the info. Very useful.

[@paullesagrado]

You are really a fountain of knowledge...

[@cleopatracl6025]

Thank you very much. Very clear video. For the first time I’m understanding the role of inflation in deciding on parking money

[@dadu251]

Very well presented Dr Bhat 👌 Thanks a lot. Fully agree with your views.

[@NRIMoneyClinic]

Thank you very much for your kind words. Please subscribe and Share videos with your friends

[@akindian1697]

You are doing a great job for NRIs Sir

[@mehulsanthosh2888]

I can't thank you enough for providing me with this answer. Sounds simple enough to factor in the inflation rate when looking at interest rates of India and here in Canada. I was thinking of deposting money in India thinking of making more due to the interest here which is around max 1.25% to India which was giving me 6% average. Thank you for this video.

[@nihanweerakoon9884]

Plllllllllllllllllllllllllllllllllllllllllll0

[@VikramPurohit]

Video starts at 14:16 and ends at 15:30

[@as-pn910]

thank u so much

[@palanimech]

Thank you for the free knowledge.

[@roshansvideos]

No hype, Just the right advice. Perfect!

[@kgeorge1736]

Thanks very much. Very well explained.

[@rogerm7922]

Thank you for this information. I have lived in the USA for nearly 30 years and yet to find a bank that pays 2% savings interest. It does not exist.

[@jayloving2005]

2% is still gud. In aus its .30

[@financialninja3180]

Rates were 4% all throughout the 90s. Till 2009 the interest rates were around 2%. Last decade however the rates have been under 1%

[@Nik-sv1yw]

He is talking about keeping money in India in USD.

[@fredutah]

Thank you sir. you are the best financial advisor of all time

[@jagaipadahaldar39]

Thank you sir for your advise and helping attitude .

[@writeramitabhaneilrayofusa6037]

very nice suggestion..... thanks

[@e.punithavathyveeramani5321]

Explained very clearly thank you

[@RanjeetSingh-bl6ry]

The best and most logical explanation so for I watched!!

[@sounikbanerjee9751]

Thanks for this video

[@kd1366]

Very nicely explained.Thank you for uploading video.

[@rahulgholap2008]

Amazing information ,too good, I was searching for perfect answer and here I am

[@Zen-h2x]

Excellent presentation with clarity

[@rajeshwargaddam7336]

Thanks for good analysis and guidance

[@NRIMoneyClinic]

Thank you . Please subscribe and keep sharing the videos

[@neeleshb9429]

To add one more, if you are US resident and keep FD etc in India, you are liable to pay taxes to Federal & stage govt (which you pay in dollars each year), so in long run, as rupee depreciates your savings value decrease, as you end up paying more taxes in dollars and loose value. Another thing, people think investing real estate in India is good option, but what I have seen, the dollar value of the real estate change is almost negligible, e.g. a 2B flat in 2015 in Bangalore cost 40L, today its value is 55L, but the dollar value for both these is 67k usd. so essentially you did not make any money, but paid for property taxes, interest on emis, and when you go for selling these you end up paying more taxes, as that is capital gains in INR. Even if you think earning additional income by renting your real estate, its not that easy and not everyone can manage it remotely.

[@rharshad93]

Thanks Dr. Chandrakanth Bhat. Very well summarized.

[@NRIMoneyClinic]

Thank you very much for your kind words. Please subscribe and share it with your friends..

[@ankurbbhatt]

Dear Mr. Bhat, Thank you for your videos. The problem NRIs face with keeping money in NRE accounts is repatriation of money from the NRE account to their foreign currency account. I am in Australia and struggle to get the money/ interest accumulated in the NRE account back to my Australian bank account at a good exchange rate. Banks are the worst in shaving large sum of the the profit in to-fro movements and there are not many organizations which offer this service. Please advise/ make a video on better repatriation options other than banks if you know of. Thanks again, subscribed!

[@NRIMoneyClinic]

Dear Ankur Bhat, Yes a problem exist in this sphere . Not many money exchanges are there in India . You Can try Thomas Cook branch to remit back which may give you better rate. Don't transfer small amounts of money as fixed charges from banks will eat up your amounts. You can also consider FCNR deposits in Australian dollars if that helps. You may also consider opening a singapore account with ICICI bank or any other private Indian banks . If you have a specific query send it on my whatsapp [phone]. Please subscribe and keep sharing videos.

[@anujgautam2502]

Very nice and clear explanation sir ..

[@vaibhavbhame]

Awesome content 👌👍👏 Was looking for this info due to covid-19 situation. Thanks 👍🏻

[@NRIMoneyClinic]

Thank you very much for your kind words

[@ajithcheruvally7964]

This is a really informative video

[@NRIMoneyClinic]

Thank you for your kind words. Please subscribe and keep sharing

[@rsvppks]

M

[@rsvppks]

@@NRIMoneyClinic ....

[@ankitwww]

very mature advice!

[@prashanthbk3760]

Gold seems better than any currency.

[@mg.f.9023]

Amazing clarity! Many thanks, more Power to you!

[@NRIMoneyClinic]

Thank you so much for your kind words. Please subscribe and keep sharing the videos

[@sudhakarsolleti]

Thank you. I was looking advice on this question.

[@yetanothercsstudent]

You talk about how holding dollars vs rupees doesn’t matter as it will be a wash. My question is won’t there be a difference in return owing to how interest is taxed in India vs the US?

[@brpcutube]

Very good information and decision making process. Thank you .

[@maheshnair208]

We are blessed to have your videos, keeping it so simple to understand!

[@saluskumar1508]

Amazing explanation for a confusing topic... randomly came across the channel.... great effort sir👌

[@NRIMoneyClinic]

Thanks and welcome. Please subscribe and keep sharing the videos

[@kishor1513]

First time I hear your video very useful for me

[@SrikanthPRABHA7]

How did I miss this channel 🤔. Excellent

[@KavithaKukunoor]

Thank you so much Sir for this very informative video.

[@Pattikadu1]

I am living in Switzerland i keep small money in India just for travel. Exactly you said for our children's studies we have to keep Swiss francs we can't pay with Indian rupees.

[@Pattikadu1]

@@maverick7323 yes bro

[@ashwaathyashwaathy5679]

Very informative. Thank you Sir for doing such videos.

[@DeepakSDaniel]

Very helpful. Thank you

[@j.r.6517]

Well explained. Excellent. 👍

[@nradhakrishnan3717]

first time visitor to your channel and like it so much ..very good explanation ..thank you .. subscribed and started sharing ..

[@FinancewithArjun]

Great video! It's very important to keep in mind your long-term goals when making this decision.

[@NRIMoneyClinic]

Thanks for your feedback. Please subscribe and keep sharing the videos

[@dyutimandas]

Currency involves two things, exchange rate and interest rate. These are supposed to offset each other. However, if you use BlockFi, and keep your money in usd coins you can earn 8% interest rate, this getting the advantage of both exchange rate and interest rate. Unfortunately blockfi is not available in New York State yet.

[@truthsayer5824]

What is blockfi?

[@dyutimandas]

@@truthsayer5824 a crypto bank where you deposit crypto and collect interest in crypto. you can also use stable coins like USDC which are equivalent to usd. But recently I here Celsius is better than BlockFi.

[@hsdas0607]

Thanks Dr. Bhat. Your vdos always give us important information on financial issues. Thanks a lot.

[@noanarchy]

Such an informative video.

[@ashrosh112]

Great video. Very informative 👍

[@jasonmonteiro1711]

Good Video Mr. Bhat, easy for a layman like me to understand and get a fair Idea on how and where one can invest. Thank you for the video. I believe that, as you said, and per the current trend the rupee will depreciate further slowly but surely.

[@margaretjohn5590]

NRI MONEY CLINIC gives tremendous information for NRI'S.We can't follow all tips because we are outside.Your videos are more informative and help us to clear our doubts.Could you make a video about TAX over FCNR Account.?

[@nimish8653]

Good stuff. Answered a lot of questions I had.

[@NRIMoneyClinic]

Thank you very much for your kind words. Please share it with your friends.

[@Adhyatmic108]

Very Useful, crisp and point specific.Thank you Dr Bhatt💐👍🌺

[@kevinnelson4936]

very information video. Thanks!

[@sagar2753]

perfect channel for NRE peoples , half of the CA don't know about NRE account and rules . Thank you sir

[@NRIMoneyClinic]

Thank you so much for your kind words. Please subscribe and keep sharing the videos

[@pradeep7573]

well explained, subscribed!

[@NRIMoneyClinic]

Welcome aboard!

[@sourabhbhowmick5013]

Excellent content

[@SureshKumarKSkayikkara]

Very informative and to be followed in letter and spirit .

[@NRIMoneyClinic]

Glad it was helpful!. Please subscribe and keep sharing the videos

[@hchetri3847]

Excellent

[@krishnamullur6359]

Good narrative in a simple way in current situation. Things will be very kinetic from time to time when it comes to financial wealth. The change in worth of a dollar or rupee or any such currency depends on multi dimensional aspects of a country's economical well being mainly and volume of trade it has internationally. I expected he would explain what contributes to inflation. Inflation is mainly of printing paper currency recklessly to distribute when there is no real production to net effect. Like the cost of real estate multiplying in 5 to 10 digits in any nation when the piece of land is just appreciating with out zero production from it as a raw material. If you treat a piece of real estate over grows it's value inflation will cross double digits. Good communication on current state of Rupee Vs Dollars.

[@NRIMoneyClinic]

Thank you very much for your views . Please subscribe and keep sharing the videos

[@sidney707]

Would be great if you could explain in other videos how to best invest dollars (other than fixed deposits)..

[@jbs7808]

Very valuable information

[@NRIMoneyClinic]

Thank you please subscribe and keep sharing the videos

[@SumitInDenmark]

Excellent explanation. Always had exact same doubts which got clarified with relatable practical example.

[@NRIMoneyClinic]

Glad it was helpful!

[@abdulmajeedhassaghani2138]

Excellent program. Very informative for us NRIs

[@MS-yn1zj]

great presentation .. my research also proved the same what you said..

[@NRIMoneyClinic]

Thank you very much for your kind words. Please subscribe and keep sharing the videos

[@hchetri3847]

Very clear

[@jaindratripathi1166]

Your opinion and knowledge are excellent.

[@drkamalnarain8276]

Very informative and well explained

[@Abdulvlogs6467]

I have watched your video for 1st time, ur videos are very informative.make much more videos and keep rocking.

[@NRIMoneyClinic]

Thank you. Please subscribe and keep sharing the videos

[@sanjaydongre]

thanks chandrakant ,

[@anuvlogsdubai7700]

Hi thank u very much I was looking answer for this matter no one able to answer clearly as u explain... I am from srilanka right now we are facing high inflation

[@rambaskaran1729]

Sir, Thanks for the good advice!

[@NRIMoneyClinic]

You are most welcome . Please subscribe and keep sharing the videos

[@nehasingla5235]

Great Explanation. Thanks a lot Mar Chandrasekhar. But with the changing world order, anticipated recession in US, outperformance of Indian markets and emergence of strength into another currencies, the Dollar/ Rupees might change. I guess, your suggestion of hedging USD and INR against each other may be better deal for all the needs . Thanks a lot once again.

[@lakshmikanthreddy9496]

ChandraKanth it seems :)

[@AftabKhan-lg8uc]

Good informative episode

[@Venkatesaiyengar]

An NRI aged 60 is in confusion to live retirement life in US or in India 80% chance are there that he will go to india and live his retirement life So your this clarification is very much useful to him to decide on his savings Thank you very much sir I will send him this video and have his blessings to you always 🙏

[@beamerUSA]

anything other then that is retarded thinking. US you only pay tax & insurance if you do not have sizable business income.

[@jayloving2005]

No one go back to india after leaving kids back...

[@jayloving2005]

@@beamerUSA in whole, europe nation, aus, canada have same system filthy tax, insurance, medicare and get nothing and remain poor forever...NRI cant go back its stuck in golden cage

[@shrikanthnaik9522]

very useful tips... such information no banks will give to their clients

[@tupsmis]

Well explained.

[@venky1777]

Great video

[@NRIMoneyClinic]

Thank you . Please keep sharing the videos and subscribe

[@indiramurali4794]

Good explanation but you didn’t mention about its income tax implications can you explain on that part

[@narendrabhagalia2522]

Excellent 🙏

[@jimmyjohn4593]

Simple explanation & easy to understand 👍👍

[@NRIMoneyClinic]

Thank you. Please subscribe and keep sharing the videos

[@rambaskaran1729]

Sir, You can show with example of $100000 at $1= Rs 74 at 8% interest for 10 years today and Dollar value increase to $1= Rs 80 in 10 years!

[@NRIMoneyClinic]

Thank you for your valuable suggestions. We shall keep these things in mind . Please subscribe and keep sharing the videos

[@myyt7849]

Yes if it explained like this very easy to understand and remember

[@d.bcooper2271]

@@NRIMoneyClinic What if I can get *_20%_* interest on my savings account where our country's inflation is 10%pa?

[@AshokKumar-2113]

Very good advice

[@NRIMoneyClinic]

Thanks and welcome

[@insightkr7958]

Sir, great knowledge and Good Idea.... One questions please....

[@socratesvijayarangan3929]

Thank you Sir.

[@NRIMoneyClinic]

You are most welcome

[@sanjaykumarkulkarni2018]

Very nice. In next 6 months doller will appriciate & can touch 85 INR per doller

[@shichipa]

This is I am looking first Vedic of NRI and it is very informative. I would like to see your all Video about NRI.

[@NRIMoneyClinic]

Thank you very much for your kind words

[@sajidkhalfe9968]

Thank-you!

[@sivakumars1712]

Well articulated.

[@NRIMoneyClinic]

Thank you so much for your kind words . Please subscribe and keep sharing the videos

[@vimalsampat6737]

Hello sir, now when india has decided to deal in rupees with many countries and inflation comparisons are much in favor of India.....what's your view with present situation.