With the rupee depreciating, should you opt for international funds?

The rupee may not always depreciate, and international markets also go through ups and downs

I have around Rs 400,000 in my bank account that I am planning to invest. I don’t have an organised emergency fund. But this amount acts like one. I am aiming for returns better than fixed deposit. Where do you suggest I invest? 

The basic characteristic of an emergency fund is that we are able to use the money quickly when we need to and for that, we are able to withdraw it equally fast. Returns here are of secondary importance. In my view, it’s only liquid funds among short-term bond funds that fulfil this need.

With the rupee depreciating, I want