If you are sending money to India you can keep in form of NRE A/C or FCNR A/C.NRE A/C CAN BE IN FORM OF Savings or Term Deposit in Indian Rupees .The conversion is on the date of the amount received in India,FCNR is only in Term Deposit and in Foreign Currency .FCNR A/C is better than NRE Account as exchange risk is not present in FCNR Deposits.
