Here is a Quick guide why this is a good time for you to send money from the USA to India and discover how to do it.
Sending Money to India
Money transactions are a very tedious process because of the exchange rate that keeps changing frequently. So you need to be very smart and get information about the right time when rates are high and take the opportunity for transferring money.
In the case of transferring money from the USA to India, now is the best time. The exchange rate between the US dollars and the Indian rupees has been on the rise for the past 3 years. At present, the rate is at its highest.
The USD/INR rate right now is approximately 74 but there is a chance of it falling to 70. If you want to send money, now is the best time. If you are looking for a quick way to do so, just keep reading.
How to Send Money from USA to India
Now that you are looking to send money, you must locate the nearest western union money transfer, you can do so online by going to https://usa-banks.info/western-union/
Western Union is the most well-reputed money exchange service that provides some of the best services to its customers. Transferring money through a western union is fairly simple. You just have to go to the nearest located western union, provide the necessary information and they will do the rest of the job from there.
You don’t even have to stress anymore.
Why Trust Western Union?
This is an American company that sends money worldwide. They use different methods of sending money, whether to short or long distances.
You can go to their local location and easily send money to your family or for your business in any country. You can even use their apps for a quick money transfer from your mobile to a seller or merchant.
Western Union is always up to date with technological advances and looks to provide the fastest service by using websites and money apps for their regular and business clients. Not only that, but they also provide different pay-out options. Overall it is a very convenient service to use.
Current State of the Indian Rupee
Due to the pandemic, in an attempt to handle the crisis in Asia and Europe, the exchange rates had spiked to a sky-high 93.910 against an array of currencies. In the light of this event, the rupee opened at an attractive 73.48 which is not too far from its 73.38 close. Still, a raise is always fascinating.
As business was closed, the economic state of all countries became quite unstable. However, after the quarantine period was over and life resumed to normal, there was a decline in the rate of rupee due to the pressure created by a domestic deterioration. The GDP of India is assumed to drop by 11.5 % according to the Prime minister of India.
The expected exchange rate for this year and the coming year is said to be in the range of 73.30 to 73.80. These are some of the highest rates at the moment, it is the perfect time for you to consider sending as much money as you can to your family, relatives, friends, and business if any.
Why Should You Consider Sending Money Now?
During the present situation, it can be very hard to earn money whether online or offline. Supporting your family has become a very difficult task and, sending money right now is very important. Especially in India where people are going through severe crises, people are losing jobs and resources.
The exchange rate is at a historic high and hence you will be benefiting the most if you send money from the USA to India now. Maybe someone in your family wants to open a new account or get a credit card so you need to send them money.
You should not only send money because of the high exchange rate, but you should also think about where you want to settle in the future. If you want to come back to India, you might want to keep the Indian currency as savings.
Investing in Funds
You Might be stuck in quarantine in the USA, working from home, and yet the money that you earn is not enough to send back and settle. You may want to consider investing in mutual funds in India.
This will help your family earn some extra money and you wouldn’t have to keep sending regularly. You might also want to send money to help your family or friend start a business and there is no better way of doing it than western union
So Do It Now and Enjoy the Benefits
Send money to India now and enjoy the advantages of the high exchange rates. This is the best time for doing so, don’t miss out on this wonderful opportunity. Send money to your loved ones and tell your friends and co-workers to do so too. Why should you have all the fun alone?
As the economy starts to get back to normal, the rates will slowly and steadily decline. There may not be many benefits available from the exchange rate then. As people are suffering due to the crisis, you should take full advantage of this high rate and help each other out. After all, only a human being can help another one.
In Horace’s words, Carpe Diem! Get the Money while it’s still hot!