Non-resident Indians need to be cautious in spending | GulfNews.com:
"A sharp rise in India’s consumer prices will impact the spending and investment pattern of non-resident Indians (NRIs) according to financial experts.
A general increase on prices above most forecasts, especially food prices to 14.72 per cent last month is expected to impact the family budgets of many NRIs who send a significant portion of their earnings to support families in India.
“Rising cost of living in India is indeed a big concern for NRIs. On the face of it, decline in rupee’s exchange value might look attractive, but the debasing of the currency simply means its purchasing power gets eroded,” said Y. Sudhir Kumar Shetty, Chief Operating Officer of UAE Exchange Centre."
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