Where to actually park your rupees. The 8-Bank Rate-Off · June Visa Bulletin · Rupee at 95.97
The Rundown
FCNR (USD) is the trade most NRIs ignore. At 5.00% on 1-year USD deposits (Union Bank of India), with zero rupee-conversion risk and full repatriability, FCNR quietly beats most US money-market funds after-tax. The 135 bps spread across banks is the widest in our survey — $1,350 per year on a $100,000 deposit, every year.
EB-1 and EB-2 India just retrogressed. The June Visa Bulletin pulled EB-1 back 3.5 months and EB-2 back ten months. EB-5 Unreserved India was explicitly warned for July. If your I-485 is pending in EB-2 with a priority date after Sep 1, 2013, your case is now sitting behind the final action date.
The rupee touched 95.97 on Friday. Another all-time low. A dollar now buys 12.13% more rupees than it did twelve months ago. If you've been waiting on cross-border money moves — FCNR funding, parental support, property purchase — the entry math has never been better, and the structural trend doesn't suggest a reversal.
Read more at https://crossborderplaybook.beehiiv.com/p/edition3-nribankrates