A weak rupee may be bad news for the country, but NRIs in these nations have a reason to rejoice.
India is the largest recipient of global remittances in the world, receiving $69 billion in 2012, according to a World Bank report. The money that expatriates send will have more value now because of a depreciating rupee.
A remittance is a transfer of money by a foreign worker to his or her home country.
: Migration and Development Brief 2012 from the World Bank’s Migration and Remittance Unit