Outward remittances under LRS up at $2.5 billion

Mumbai: Total outward remittances under the Liberalised Remittance Scheme (LRS) for the Month of June stood at $2.5 billion, versus $2.4 billion in May. Indians spent the most on travel - $1.3 billion in June, versus $1.2 billion in May. For studies abroad, Indians spent $96 million in June versus $92 million in May.

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For maintenance of close relatives, Indians spent $287 million, while $456 million were spent for investments in equity and debt in June.