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India Push for Overseas Capital Draws Over $40 Billion, RBI Says
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India Push for Overseas Capital Draws Over $40 Billion, RBI Says India’s push to attract overseas capital has brought in more than $40 billion since June, boosting the RBI’s foreign-currency buffers as policymakers seek to stabilize the rupee amid rising crude prices. Figures released by the Reserve Bank of India on Saturday showed the amount mobilized through foreign currency non-resident, or FCNR(B), deposits at $36.72 billion as of July 31. That, along with inflows through Overseas...
India Push for Overseas Capital Draws Over $40 Billion, RBI Says
India’s push to attract overseas capital has brought in more than $40 billion since June, boosting the RBI’s foreign-currency buffers as policymakers seek to stabilize the rupee amid rising crude prices.
Figures released by the Reserve Bank of India on Saturday showed the amount mobilized through foreign currency non-resident, or FCNR(B), deposits at $36.72 billion as of July 31. That, along with inflows through Overseas Foreign Currency Borrowings and External Commercial Borrowings takes the total to about $41 billion.