normally it would be rather common practice to hold dollars as a hedge against the central bank's fiat denominations. though in countries like india they prefer gold.
They do love BTC in India. The problem is that since the rupee is rather unstable the government is trying to stop people from dumping it and lowering its value even more. If your currency is going down and there are ways that you can use to move your money out of the country and even make more money by doing it, people will jump at the opportunity, just like the Chinese were doing in 2013 and 14, until their government banned BTC.