Falling rupee has at last one benefit. It has started a mad rush among Non Resident Indians to buy properties in India.
Continuing on slippery slope, the rupee slid to a new low point of 56 against the US dollar at midsession on Wednesday on persistent demand for the American currency from banks and importers amid weak stock market.
As the rupee's downward trend continues, real estate becomes a good idea for NRIs. Several of them are seeking residential property investment opportunities in Mumbai and Delhi.
The dollar has been gaining strength against other global currencies as well.
The rupee has continued the fall for the sixth day in a row despite some steps taken by the Reserve Bank amidst capital outflows from foreign funds and weakening equities.
The rupee resumed lower at 56 per dollar against the last closing level of 55.39 per dollar and dropped further to an all-time low of 56 per dollar at 1236 hrs.
Two categories of people-exporters and the NRIs are eager to make most of the falling rupees.
The real estate consultants are noticing the trend and are optimistic of doing good business from this fall in the value of rupee.
As the rupee's downward trend continues, real estate becomes a good idea for NRIs. Several of them are seeking residential property investment opportunities in Mumbai and Delhi.
The dollar has been gaining strength against other global currencies as well.
The rupee has continued the fall for the sixth day in a row despite some steps taken by the Reserve Bank amidst capital outflows from foreign funds and weakening equities.
The rupee resumed lower at 56 per dollar against the last closing level of 55.39 per dollar and dropped further to an all-time low of 56 per dollar at 1236 hrs.
Two categories of people-exporters and the NRIs are eager to make most of the falling rupees.
The real estate consultants are noticing the trend and are optimistic of doing good business from this fall in the value of rupee.
Source:english.samaylive.com
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