Foreign spends dip $5.7 billion in 10 months Top Searches Foreign spends dip $5.7 billion in 10 months Mayur Shetty / TNN / Updated: May 14, 2021, 06:42 IST FacebookTwitterLinkedinEMail MUMBAI: The average monthly dollar spends by Indians has fallen 33% to less than $1 billion in the first 10 months of FY21, down from $1.5 billion in the same period of the previous fiscal. The drop came as citizens cut spending on foreign education, international travel, and remittance to relatives. In absolute terms, total remittances for the first 10 months of FY21 at nearly $10 billion was $5.7 billion lower than $15.7 billion in the same period of the previous year due to the pandemic. According to Reserve Bank of India data, Indians spent $2.6 billion in overseas travel in the first 10 months of FY21, which is less than half of the $6.1 billion they spent in FY20. On overseas education, Indians spent $3 billion in the same period of FY21, which is over a billion dollars less than the $4.2 billion they sent abroad in the previous year.