converting dollars into rupees

[lalalala]

is it wise to take money out of account like ING direct or Citie account( which pay 4-5 %) and convert it into fixed deposit accounts in rupees in India ( paying (%) or even put money in mutual funds in India.

The reason that i am asking is because of the uncertainity about the current economy and the over rated dollar, but on the other hand one never can be sure about how things are going in India
please give your feedback

 

[great guru]

No. That is not wise thing to do.

Take the US $ , purchase UK pound or Euro and keep it in FCNR in iNdian banks, interest rate is hing and appreciation of currency also very good compare to US$

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is it wise to take money out of account like ING direct or Citie account( which pay 4-5 %) and convert it into fixed deposit accounts in rupees in India ( paying (%) or even put money in mutual funds in India.

The reason that i am asking is because of the uncertainity about the current economy and the over rated dollar, but on the other hand one never can be sure about how things are going in India
please give your feedback

 

[kcguy2004]

how do I do this?

No. That is not wise thing to do.

Take the US $ , purchase UK pound or Euro and keep it in FCNR in iNdian banks, interest rate is hing and appreciation of currency also very good compare to US$

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how do I do this?
How do I "buy" UK pounds, Euro?