At USD 2 billion, travel adds most to foreign spends in August

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Indians spent USD 3.2 billion overseas in August 2024, mainly on travel, education, and supporting relatives. Outbound travel totaled USD 2.01 billion, close to the record high in July 2023. Studies abroad saw the second-highest spending at USD 416 million. The data shows steady recovery in forex spending despite the 20% TCS rate on amounts over Rs 7 lakh.

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At USD 2 billion, travel adds most to foreign spends in August

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