Forex spends fall 14% in a month, local e-pay up

Forex spending by Indians declined 14% to $2.4 billion in Oct 2024, with travel comprising the largest share. Simultaneously, domestic electronic spending peaked during the festive season, but saw a sharp decline in Nov 2024, with significant drops in credit, debit card, and UPI transactions.

Dec 26, 2024 - 05:00

Forex spends fall 14% in a month, local e-pay up

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Forex spending by Indians declined 14% to $2.4 billion in Oct 2024, with travel comprising the largest share. Simultaneously, domestic electronic spending peaked during the festive season, but saw a sharp decline in Nov 2024, with significant drops in credit, debit card, and UPI transactions.