Forex inflows reach $72.85 billion: RBI
India, Aug. 23 -- Forex inflows mobilised under the Reserve Bank of India's special USD-INR swap facility reached USD 72.85 billion as of August 21 with FCNR(B) deposits accounting for the bulk of the funds raised under the scheme, according to data released by the central bank on Saturday. The RBI said authorised dealer banks reported USD 65.397 billion in inflows through Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits under the facility as of August 21. This was followed by overseas foreign currency borrowings (OFCBs) at USD 4.86 billion and external commercial borrowings (ECBs) at USD 2.591 billion. The central bank had introduced the special USDINR forex swap facility on June 8, covering inflows through FCNR(B) deposits, ECBs ...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.