Indians sent $2 billion abroad in September, some for a few cryptos more

25 November 2021 10:43 AM
English
  • Indians sent $2 billion abroad in September, some for a few cryptos more

As per analysts' speculation, there is a possibility that the remitted money under any permissible LRS head, could be subsequently used for any purpose including the purchase of cryptos.

Overall outward remittances under LRS rose 56 per cent during April-September'21 to $8.9 billion compared to $ 5.7 billion in the same period a year ago.
Resident Indians sent close $2 billion abroad in September under the Liberalised Remittances Scheme(LRS), touching a three year high which analysts speculate could be to buy cryptos. More than 60 per cent of the money has remitted is for travel abroad and studies, which again are at multi-year highs, RBI data indicates.


Related News

Loading...
Advertisement
Advertisement