Not only will this amount to significant savings when buying foreign currencies for overseas travel, it will also make spending towards fees or investments abroad a much smoother process. That said, the money parked in Gift City foreign currency accounts can only be used for purposes permitted in the Liberalised Remittance Scheme. LRS allows resident … Read more
The Indian rupee declined to a record low against the US dollar on Thursday weighed down by broader strength in the greenback amid demand from local importers. Rupee fell to its all-time low of 83.62 against the US dollar. The local currency had closed at 83.4550 in the previous session. The dollar index strengthened against … Read more
Indian equities are likely to trade with a downward bias ahead of general elections results, but analysts do not expect a prolonged correction with the market expected to offer buy-on-dip opportunities. Premal Kamdar, Analyst at UBS Securities said he remains cautious on small- and midcap (SMID) companies due to rich valuations and downside earnings risk … Read more