At around $1 bn, travel accounts for half of outward remittances in May - Business Standard

According to Reserve Bank of India RBI data total remittances rose by 618 per cent yearonyear YoY to 203 billion in May 2022 from 125 billion in May 2021

Outward remittances by domestic residents were stable sequentially at $2.03 billion in May 2022 with close to $1 billion being spent on travel. For April 2022, the figure is about $2.02 billion. Acc… [+3061 chars]

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