Wednesday, June 6, 2007
DLF & ICICI Issue and Rupee Rate
I need to send some money to India. Since the rupee has depreciated significantly in recent weeks (current rate 40.5$), I was wondering if I should wait for some time for rates to improve. I was talking to my dad ( he lives in India) about this. He said it is better to send now because rates are expected to go down further. He said DLF and ICICI are coming out with huge public issues and this will result very significant inflow of FII investment in to India and would put further downward pressure on dollar. Logic makes sense to me and I am rushing to send money to India. However the amount is large so I am looking for best service to send money. I have done some research and looks like ICICI is the best way to go. I will post on it goes and the rate I get. I am hoping I will get atleast 40.5.
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