Is it possible to hedge Forex rates?
Hello all,
I reached out to my Relationship Manager at the bank but they don't have much clue, so I hope I am at the correct place on Reddit.
I am working in India as a full time contractor working for an IT firm in the US. I avail the benefit of 44ADA since my income is just under 75 lakhs INR.
I have also not accepted any salary hikes in 2 years for the same reason.
Since the INR is weakening against USD (1 USD = 85.68 INR currently) is it possible to request the bank to hedge the forex rate to maximum of fixed rate, let say 83.65 INR, so that my income never exceeds 75 lakhs INR? If yes, how should I explain this to the bank so that they understand?
If not, do I have any other options?