Over the past few months, the value of Indian Rupee against dollar has been depreciating at a fast clip. About six months ago, the value was 45 Rupee per dollar. Now it is 65 Rupee per dollar. The fall is almost 50%.
Effects of rupee depreciation
A variety of reasons have been attributed to this – from signs of financial stability in the USA to economic conditions and policies in India. While the population as a whole is likely to face price hike and other adverse financial effects, pravasis or non-resident keralites are enjoying an effective hike in their salaries or business income, without doing anything extra.
Over the last six months, many people find that there has been an average increase of 40% in the amount they sent home. However, the problem is that the inflation and prices too have been increasing. So, when people back home spend the extra amount, there is no real benefit by this 40% increase in the money sent.
How can you get benefit?
The best way is to save the money. There are a variety of saving options: from KSFE chitties to insurance and mutual funds to investment in gold, stocks, and land. Always consider the less risky options. We do not suggest that KSFE chits are the only safe investment options. LIC, for instance, has been offering stellar financial service for quite a long time. Investments in bonds and fixed deposit too are always a safe option.
Some people suggest that this is the right time to invest in stocks as stock market is on a low. We do not endorse that view. Stock markets are too volatile, and it is almost impossible to predict returns at this point. Gold and land are by and large secure and profitable investment options.
On that note, KSFE offers you a special scheme to win gold as well as buy land. If you join KSFE Bhagyavarsha chitties, you can win gold prizes as well as obtain the chitty prize money to buy land.
Join KSFE chits to get the best out of falling Rupee
KSFE has stopped Pravasi Bandhu chitty scheme now. However, still KSFE chitties are the best pravasi bandhu (well-wishers of non-resident keralites) out there. To learn more how to use KSFE Bhagya Varsha chitties to get the best out of the Rupee melt-down, call (0)9446002081 or mail to firstname.lastname@example.org.