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India may see up to $85 billion in forex inflows after RBI's FCNR move: Report
India anticipates substantial Foreign Currency Non-Resident deposits, possibly reaching eighty to eighty-five billion dollars. Public sector banks are leading this significant mobilization effort, exceeding previous records. FCNR(B) deposits have already reached seventeen point forty-one billion dollars by mid-July. Higher interest rates are expected to encourage renewals of maturing FCNR deposits. This influx will bolster foreign currency assets, reflecting positive economic trends.
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thehindu.com
RBI sees rupee as undervalued; FCNR(B) inflows cross $32 billion
RBI Governor asserts rupee is undervalued as FCNR(B) inflows surpass $32 billion, strengthening India's external financial position.
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RBI sees rupee as undervalued; inflows largely through FCNR (B) touch $32 billion
RBI Governor asserts rupee is undervalued as FCNR(B) inflows surpass $32 billion, strengthening India's external financial position.
