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Back to Top of Index Question-26: At what rates are remittances to India by NRIs for credit to NRE/NRO accounts converted into rupees ?

April 26, 2017accounts converted credit index India NRE NRIs nro rates remittances

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Back to Top of Index Question-26: At what rates are remittances to India by NRIs for credit to NRE/NRO accounts converted into rupees ?

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Remittances made for credit to rupee accounts (i.e. NRE/NRO accounts) maintained by NRIs are converted at market rate. Similarly, funds in foreign currency accounts i.e. FCNR accounts if converted into rupees will also be converted at market rate,i.e. the rate as determined by authorised dealers on the basis of market forces.