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By WM Intelligence
June 21, 2016 | 14:45 | Dubai
As the world prepares to face the possibility of a ‘Brexit’, India on its part is facing what many have come to term ‘Rexit’ – the exit of the current governor of the Reserve Bank of India, Raghuram Rajan. Raghuram’s term, which began in September 2013 has been lauded by many in terms of the apolitical stance taken by the 23rd Governor of the RBI and playing a very active role in aiding India emerge out of an economic turmoil to getting recognized as the fastest growing economies currently. Here’s a review of why his exit or the period of the next few months could actually aid your repatriating funds from the UAE.
The pair took support around 17.9 (Area of support as highlighted in our article What India’s Rate Cut Means for Expats and NRIs in the UAE?) and has since moved sharply towards the current level of 18.40. For now this uncertainty prevalent could well be a reason for you to prolong repatriating funds to India in the quest for a better rate in the coming months. In the interim though, it would be interesting to see how ‘Brexit’ interrupts ‘Rexit’