Daily Archives: August 20, 2013

Expats rise as rupee falls: Indians taking loans to send money home

Some Indian expats have started taking personal loans from banks and approached their respective companies for borrowings in a bid to take advantage of a record fall in the value of the Indian rupee against the Saudi riyal. “The Indian rupee touched an all-time low of 16.38 against Saudi riyal and 63.13 against the US dollar on Monday,” said Farid Khan, a local banker.

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