Question

The current lockdown in India which is adversely affecting the business in country. Small and medium enterprises are almost getting defaulted and big companies are also in danger now. The exports and imports of the country is at all-time low. A situation where as an Indian investor I don’t feel relax in starting a business. You are my investment expert and I would love to hear from you what If I convert my INR to USD till the Covid19 doesn’t finishes, will be a good investment or bad? Support your answer with real facts and figures.

Answer 1

Covid-19 has affected all the economies of the world either it be Indian or American.All the businesses are suffering throughout the globe may it be small, medium or big enterprises.As an investment expert i will suggest that you should convert your INR to USD as Indian rupee will always be of lower value than US dollar.

Even during this time US dollar is king when the coronavirus slams the country.Coronavirus has affected the country very badly in terms of human health,jobs and brought the economy to its knees but it has not dethroned the value of the dollar.To the contrary where all the currencies are falling it has raised although it may be less than before.This is because most of the people are investing in US dollar as they are safe heavens in the times of crises.

But now the government of India has launched Atamnirbhar Bharat package that provide great assistance to MSME and other sectors of the economy that will surely uplift the country economic condition.Step to go vocal for local will all take the INR to great hieghts so now it is also safe to invest in the INR as this package will lead to normal economic condition of the country.So to promote our Nation i will suggest to go for INR it will lead to good profits in future.

But if you convert your INR to USD it will always be a good option as USD will always be over and above the indian rupee but it will not promote our PM's motto that is Vocal for Local.