$100 bn in sight, yet the rupee won't budge
Synopsis Two months after the RBI launched special measures to attract foreign currency, banks have mobilised over $40 billion, led by FCNR(B) deposits, with economists
Synopsis Two months after the RBI launched special measures to attract foreign currency, banks have mobilised over $40 billion, led by FCNR(B) deposits, with economists projecting inflows could reach $100 billion. The programme is aimed at strengthening India's external defences and ensuring dollar liquidity during global volatility, rather than boosting the rupee, which has remained largely unchanged.
The BriefWire