Indians remit $2.7 billion overseas in August, led by travel
Reported by Economic Times Markets, not nibnow. We are not the publisher of this story, only the source is.
The $2.7 billion outward remittance in August shows how Indian households are allocating significant funds abroad for travel, family support, and investments, which can affect domestic consumption and foreign exchange flows.
Outward remittances under the Liberalised Remittance Scheme (LRS) stood at $2.7 billion, with travel accounting for the largest chunk. Indians spent $1.6 billion on travel in August, from $1.7 billion in July, while $275 million were spent on maintenan-ce of relatives. Indian citizen spent $321 million on investments in equity and debt, while $191 million on studies abroad.
India's Liberalised Remittance Scheme allows individuals to send money abroad for permitted purposes such as travel, education, and investment, and the volume of outward remittances is a key indicator of external demand and capital outflows.
- •Watch for monthly remittance data to see if the travel spend continues to decline or stabilise
- •Monitor any regulatory updates to the Liberalised Remittance Scheme that could affect future outbound flows
- •Track changes in foreign exchange reserves that may respond to sustained high outward remittances