More Than Expected Foreign Inflows Behind RBI's Early Closure Of FCNR-B Swap Window
The Reserve Bank of India’s decision to close its FCNR-B swap window nearly a month ahead of schedule may have been driven by stronger-than-expected inflows and rising costs associated with supporting the facility, particularly as the rupee remains under pressure. The central bank announced on August 14 that India had attracted $56.8 billion in inflows, with FCNR deposits accounting for $52.3…
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