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$32 billion inflows from India's forex drive yet to boost rupee
India's special measures have attracted $32 billion in foreign currency inflows, but the boost has yet to significantly strengthen the rupee or ease banking system liquidity. While borrowing costs have declined, the RBI's foreign currency assets have risen more slowly as markets await the full impact of the inflows.
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newsbytesapp.com
RBI's forex measures attract $32B in foreign inflows
RBI Governor Sanjay Malhotra revealed banks raised nearly $32 billion, primarily through FCNR(B), while foreign investors added over $7 billion to government securities since June.
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RBI's latest move may bring $85B in forex inflows
India could witness up to $85 billion in forex inflows, driven by the Reserve Bank of India's FCNR initiative and higher interest rates boosting deposit renewals.
