1. Buy a property


The Indian real estate has taken quite a beating with the currency ban being imposed all of a sudden. Those who were hoping to push their black money into buying houses and other real estate projects have backed out leaving many dealers stuck for cash. Property prices may go down. So, if you have been in the house hunting market for some time now, then put your dirhams and dollars to good use.



  1. Buy Equities


This is an even more attractive proposition as the Nifty has tumbled but is showing signs of recovery. The equity markets are down five per cent since the government announced currency demonetisation. Returns of all equity mutual funds are in the negative since then. So this presents a good opportunity to buy good stocks at reasonable valuations.



  1. Fixed Income deposit


Suppose you are in the UAE, you will be aware that the Rupee-based fixed income options with Indian banks are much more attractive than dollar- or dirham-based ones. So you can use this period to consider some long-term fixed deposits . Invest your dollars in Indian bank deposits and get handsome post tax returns.



  1. Remittance


The weakening of the rupee has been facilitated by Donald Trump’s election as the US President and also the current currency ban in India. So this brings a rise in the cash flow from NRIs to India, especially those residing in the US. NRIs can consider sending more money overseas. You could search for a good rate and lock it before it changes.



  1. Tackle your mortgages


A lot of the NRI population will have outstanding home loans and other debts to pay off with Indian banks. Use this opportunity to prepay those mortgages in parts so as to save some money. The rupee swinging lower than the dollar and looking to go downwards now with the volatile financial condition of the Indian market can grant you some relief.