I was talking to an indian colleague about his forth coming wedding and he let slip they he was saving up to pay for it own wedding, even though his dad had just retired at 60 and had equiv £1/2 a million in an indian bank account! I asked him what his father did to be so rich, he worked for the inidian train company and had saved all his life not buying things... and was now living off the interest of.... 9%! Compound Interest hey!
Google confirms IR is true...
Is this sustainable, is this the new carry trade? To a layman sounds like india is going to get a rather nasty icelandic style currency crash? If not is there any reason why I cant open an indian bank account?
Over the long term the pairing has looked relativly stable:
It sounds like if you have assets/savings in india you will be doing rather well
One of the reasons why our property has demand from foreigners?
Savings paying 9% used to fund a 5% mortgage in the UK?