Can an NRI invest in mutual funds through foreign currency?

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No, NRIs cannot purchase the mutual fund units in the foreign currency. An NRI has to make payment in Indian Rupees from his NRI bank account (NRE/NRO) in India.

NRI may also send a rupee check payable in Indian banks. However, NRIs have to compulsorily open an NRE or NRO Bank Account with an Indian bank to invest in India.

NRI can invest in India on both a repatriable and non-repatriable basis.

Topic: NRI Mutual Fund Investment Online in India Article

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