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

[@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

[@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 ?

[@SSModi852]

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

[@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

[@ksquareonline2836]

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

[@akindian1697]

You are doing a great job for NRIs Sir

[@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.

[@jayaramarunachalam3638]

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

[@NRIMoneyClinic]

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

[@roshansvideos]

No hype, Just the right advice. Perfect!

[@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

[@prashanthbk3760]

Gold seems better than any currency.

[@dilipupadhyay516]

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

[@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

[@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.

[@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.

[@shajiruby2346]

Fantastic,Comprehensive hitting the nail on its head.

[@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

[@vidyaranirao6432]

I think inflation will be up in india and govt is privatizing psu and bank. There will be devaluation of rupee. Hence its better to keep in dollars for nri

[@NRIMoneyClinic]

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

[@vithalbhaisheladia7533]

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

[@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

[@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.

[@mahalaksmi1]

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.

[@mahalaksmi1]

@@maverick7323 yes bro

[@SumitInDenmark]

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

[@NRIMoneyClinic]

Glad it was helpful!

[@penguintailor6067]

I have been in uae for last 30years. I have seen the dollar is always worth. In unfortunate time rupees give you very less value & more headache. So my advice will be always dollar.

[@yoooyooo5683]

ur an idiot if u invest in india u will get high return compared to western countries...

[@VikramPurohit]

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

[@aaklii]

thank u so much

[@rahulgholap2008]

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

[@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.?

[@paullesagrado]

You are really a fountain of knowledge...

[@vaibhavbhame]

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

[@NRIMoneyClinic]

Thank you very much for your kind words

[@naanallamuthu5038]

India is inflated economy. If you keep in INR it will be very quickly devalued. USD is very strong because US govt is stronger than Indian govt. They never allow USD to go down in the international market. If you are affordable to hold USD, then it is always be your first choice of keeping it. Invest in proper way instead of paper currency to get the money growing. Good luck.

[@NRIMoneyClinic]

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

[@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

[@maheshnair208]

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

[@abdulmajeedhassaghani2138]

Excellent program. Very informative for us NRIs

[@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.

[@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.

[@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

[@mathewpaily8463]

Keep in dollars. In last six years Rupee came from 58 Rupees to 75 Rupees per dollar ! This reach Century with in the next three years. It will reach 200 Rupees to a Dollar if the crude oil price reach the level of 2014 !

[@sanjaykumarkulkarni2018]

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

[@nooneknowsnothing]

Never invest in India on lands or homes until you went back and lived there for years. Your interest/dividends from those investments in US stock market ( UK or Australia ) will pay for a nice rental place. While your investments will grow in leaps and bounds in stock market and with the conversion rate, you will be much happier. Don't listen to the stories which are like lottery winners.

[@NRIMoneyClinic]

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

[@RanjeetSingh-bl6ry]

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

[@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

[@SrikanthPRABHA7]

How did I miss this channel 🤔. Excellent

[@saromaliga5937]

Thanks a lot for the info. Very useful.

[@jagaipadahaldar39]

Thank you sir for your advise and helping attitude .

[@nooneknowsnothing]

30+ years outside the country, best advice is keep it on DOLLARS until you need it very badly. DO not invest in land ( worst , its like gambling - only a very few are lucky in this ). Invest it in the stock market - even the index stocks will fare much better. Do not buy homes or buy lands or any thing. If you want to buy home, buy after 3 years of going back. Gold is another dumbest investment. Buying for parents, buy in smaller area , enough for them and don't buy that to show off.

[@NRIMoneyClinic]

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

[@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

[@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.

[@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 :)

[@kd1366]

Very nicely explained.Thank you for uploading video.

[@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?

[@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

[@palanimech]

Thank you for the free knowledge.

[@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..

[@ajithcheruvally7964]

This is a really informative video

[@NRIMoneyClinic]

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

[@rsvppks]

M

[@rsvppks]

@@NRIMoneyClinic ....

[@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

[@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

[@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

[@ivanedswin]

Sir can you please make video on taxation on equities and debts on NRI investments in India and also please include about TDS deduction and reclaiming procedure..

[@sidney707]

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

[@desisex09]

Excellent presentation with clarity

[@kishor1513]

First time I hear your video very useful for me

[@hsdas0607]

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

[@e.punithavathyveeramani5321]

Explained very clearly thank you

[@johnnyfrank8450]

Your advice and content is amazing. I am sharing your videos with my friends. I live in Canada and want to move back to India in 5 years. You have helped my thinking. Thank you very much. Really greatful!!

[@NRIMoneyClinic]

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

[@prashanttiwari3884]

So if you want to return than what's your plan... As in india there is 30% tax

[@danagovil1469]

All things are not equal. Basic real estate values etc are much different in both countries. So you can have good quality life in India at lower cost

[@SSModi852]

Dollar is world currency. At times of uncertainty Dollar will always win. Wisest decision of my life were, 1) Never to transfer even $1 to India once I got my GC 2) Not to buy another property in India once I got my GC. Disposing off property in India and repatriating that money back to US is huge pain in the a$$. Never ever hold cash in INR if you can.

[@kal8109]

I agree. Only keep a house if you want to visit India regularly. People who bought property 10 years back lost money through dollar conversion. Glad I invested all my money in USA. Low interest rates, better rents and less hassle.

[@rajeshwargaddam7336]

Thanks for good analysis and guidance

[@NRIMoneyClinic]

Thank you . Please subscribe and keep sharing the videos

[@rajseetharam7274]

do not put in cash in any currency...all govt around the world doing same thing print print print... currency is very very bad.

[@ashwaathyashwaathy5679]

Very informative. Thank you Sir for doing such videos.

[@sudhakarsolleti]

Thank you. I was looking advice on this question.

[@manaoharsam4211]

US has same inflation now. I think I would keep Rupee for diversification. I don't think US inflation will be low for a long time. But better still buy real estate in India. Not only you diversify you keep up with inflation.

[@anujgautam2502]

Very nice and clear explanation sir ..

[@Adhyatmic108]

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

[@shrikanthnaik9522]

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

[@brpcutube]

Very good information and decision making process. Thank you .

[@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?

[@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

[@dharampalrawal3332]

Over a period of next 6 months in my opinion IR shall gain strength due to good prospects of large amt of FDI inflow. What is your take on this

[@muckadackalmathew9889]

Keep your money in Dollars , never in Rupees , never in Bricks & Mortar. This is from my experience of 53 years as NRI.

[@d.bcooper2271]

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

[@kgeorge1736]

Thanks very much. Very well explained.

[@NanyangYindu]

Good video Mr Bhat. I was wondering how this will pan out when my savings are in SGD as Singapore currency is supposed to be based on a basket of currency which includes Euro, RMB, GBP besides the USD? I noted this video is 2 years old. The SGD- INR has moved from 45 to 62 in that period wiping out all my Indian FD interest in INR and also some principle capital

[@karthikeyanboopathy2933]

Hello sir.. thanks for the wonderful informative video.. to oblige to your request at the end of ur videos.. here is my thoughts - following the recent press release by the fed and the reactions in stock market in US, it appears that the inflation in near future is goin to be more than usual in US, so I assume that means Rupee will depreciate less.

[@nradhakrishnan3717]

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

[@karma240883]

Always keep it in dollars and invest in US stock market. Much better returns and less headache.

[@sharroncampbell4009]

But this seems like the investing worst period. Even the markets are now very unpredictable. Started investing recently when the market prices were a bit high, today I am more than 60% down.

[@kal8109]

@Sharron Campbell Dollar cost Average is the only way to go. Lot of companies are still in Sale. I see Indians investing a lot of money in real estate. What they don't take into account is the rupee depreciation and taxes. In addition, there is no security for your property unless someone from your family watches it like a hawk. I get better returns in real estate in USA.

[@jaindratripathi1166]

Your opinion and knowledge are excellent.

[@noanarchy]

Such an informative video.

[@Vijaykumar-ex7vs]

Dollar is strong currency but there is no fixed deposit interest rate since 2008.

[@pradeep7573]

well explained, subscribed!

[@NRIMoneyClinic]

Welcome aboard!

[@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.

[@Chandra775]

Great simple explanation !!! keep it up to educate the commons ...

[@VarunBhatiaComedy]

Very informative. Thank you. One suggestion, please try to use less words to communicate the message. It makes it precise and more effective. The content of this video could have been delivered in less than 7 mns.

[@vidyabala2455]

Exactly..

[@KavithaKukunoor]

Thank you so much Sir for this very informative video.

[@namalfernando4854]

Paper money even dollars have no value. Great mistake was taking out gold

[@kevinnelson4936]

very information video. Thanks!

[@arunkumarmistry6614]

GOOD TO KNOW . KEEPING 50 50 IS BETTER

[@farhanlobo2698]

I visited SOLUTIONCOMPLAINT👀org to invest my future, thank God it went well

[@ordinaryman1603]

it all depends. In 2000, 1 USD=~40 rupees. if i had deposited 100K USD in NRE FD rupee account and compounded that for 20 years, it would have become ~672K USD (1 usd=40 rupee value). if i had kept that same 100k in the US with ~2% (actually since 2009 it is almost 0%), that money is worth ~180k now. So, even if 1 USD = 80 rupees today, having it india fd for 20 years is profitable. so, it all comes down to what you do with that money in india or US and how long you can retain that money. i have given that in fd for 20 years as example.

[@gakkadguy]

Do not agree. if you are going thru all that trouble of opening NRE account etc. etc. you can as well invest in US MUNCIPALITY BOND some are tax free and gives return of 4+% . The rupee devaluation does not help keeping money in India and paying tax on interest earned.

[@ordinaryman1603]

@@gakkadguy compare apples to apples. Now you went to muni bonds from bank CD/FD. i could have invested in bitcoin and could have been a millionaire (1000 USD invested in 2011 is now worth more than 250 million). there is no pain in moving funds between two accounts. i do it quite often. you just have to balance as nobody knows the future. keep some in usd and keep some in rupees and get returns on both ends.

[@d.bcooper2271]

@@ordinaryman1603 What if I can get *_20%_* interest on my savings account where our country's inflation is 10%pa?

[@ankitwww]

very mature advice!

[@jimmyjohn4593]

Simple explanation & easy to understand 👍👍

[@NRIMoneyClinic]

Thank you. Please subscribe and keep sharing the videos