International funds can provide protection against rupee depreciation

When remitting money abroad, go with the player that offers the most attractive exchange rate

The rupee has been weakening in recent times against the dollar. On Wednesday, it closed at 76.23, a level it had last seen on April 27, 2020 (more than 19 months earlier). Its depreciation against the dollar and other hard currencies has assumed greater significance in recent years because more Indians now wish to educate their children in foreign universities. Indians also holiday abroad and hold destination weddings at foreign locales in greater numbers. Ultra-high net worth individuals purchase real estate in foreign cities. When the rupee weakens, they have to shell out more for these foreign-currency denominated goals.

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