Hello everybody
I am interested in buying us companies shares from india.for this purpose I opened interactive brokers account and now I need to transfer dollars to that account .Problem is apart from bank charges foreign exchange conversion fees is very high.i was thinking of opening resident foreign account domestic in bank and then buy dollars from authorised dealer and deposit those dollars in that rfa domestic account and then wire transfer those dollars to us . I intend to buy shares regularly so I want to save as much as on bank charges. I want to know is it legal and possible or I can only transfer dollars from my regular bank account.
Please help me
Thanks in advance
CAclubindia
