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JKumar10 · **Re: NRI Admission to IIM -** 13-05-2008, 04:20 PM

First IIM hiked the fees and now the Dollar is appreciating w.r.t Rupee. It crossed Rs. 42 today. Not sure where it will stop. I have already converted most of my dollars into rupees when it was 39-40. Looks like Forex volatility will teach me hedging!!

Is anyone paying first Installment in Rupees. I believe they need a proof of Forex rate. Is it the Forex rate on the day DD is issued or the day Payment is made? For instance, if I arrange for a DD in INR today to pay my first installment at today's Forex rate, will they accept the amount on the reporting date ?- especially if a Dollar is equivalent to Rs.43 then?

Any thoughts ?

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JKumar10 has no status. Trainee PaGaL Status: Offline Posts: 32 Join Date: Sep 2007 Location: Mumbai Groans: 4 Groaned at 1 Time in 1 Post Thanks: 42 Thanked 3 Times in 2 Posts	Re: NRI Admission to IIM - 13-05-2008, 04:20 PM First IIM hiked the fees and now the Dollar is appreciating w.r.t Rupee. It crossed Rs. 42 today. Not sure where it will stop. I have already converted most of my dollars into rupees when it was 39-40. Looks like Forex volatility will teach me hedging!! Is anyone paying first Installment in Rupees. I believe they need a proof of Forex rate. Is it the Forex rate on the day DD is issued or the day Payment is made? For instance, if I arrange for a DD in INR today to pay my first installment at today's Forex rate, will they accept the amount on the reporting date ?- especially if a Dollar is equivalent to Rs.43 then? Any thoughts ?