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Dollar Value & Buying land - Buy now/Wait for 2 months

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Dollar Value & Buying land - Buy now/Wait for 2 months

Last updated: May 29 2014
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  • #11

    #11

    Re : Dollar Value & Buying land - Buy now/Wait for 2 months

    Originally posted by Idealist View Post
    IMHO, Rupee has to depreciate. 58 is not sustainable in the long run. However this might take some time. I am waiting for it to hit 70. I converted a small amount when it was 69 last year. I would not yield in to pressure that the land value may go up in 2 months. Brokers want their commission, so will use all sort of tactics. Suggest open a FCNR account and keep it in dollars here. When the Rupee hit 65+, watch, wait for the right moment and convert it. I am getting 9.5% interest on my CD in SBI.
    This is wrong info mate I to have fcnr account and the interest is no where near it 1.55% to 2.55% for US dollars and I also have a fcnr Australian dollars the interest is around 4 to low 5 %. However if u convert it to Indian rupee then rate r as high a u said but then again u r not getting the currency hedge anyway maybe if u right then it is high time I change bank and more important change my advisors or may be this 9.5% u r getting is after conversion I suppose.
    Last edited May 29 2014, 09:58 AM.
    RE overpriced still fancy then 4% yield is must anything less is overpriced

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    • #12

      #12

      Re : Dollar Value & Buying land - Buy now/Wait for 2 months

      People are happy with 9.5% on a converted USD on which SBI will TDS 30%
      amazing

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