Tag: Foreign Exchange Reserves
Record FCNR (B) inflows as banks mobilise $127 bln
Mumbai: Banks have mobilised a whopping $127.22 billion from foreign currency non-resident (bank) FCNR (B) deposits in less than three months till the scheme closed…
At $729 billion, forex kitty hits a record
umbai: India’s foreign exchange reserves touched a record high of $729.3 billion as of August 21, after banks stepped up the drive to mobilise NRI…
India gets $72.8 billion in dollar inflows under RBI swap facility
India has received dollar inflows of $72.8 billon under special swap facility foreign currency non resident (bank) FCNR (B), external commercial borrowings (ECBs) and overseas…
India’s foreign exchange reserves up almost $50 billion since July
Kolkata: India’s foreign exchange reserves surged by nearly $50 billion since July as inflows swelled into the banks’ foreign currency non-resident bank (FCNR-B) following the…
India’s forex reserves soar by $9.9 billion to $716.90 billion as on August 14
India’s foreign exchange reserves jumped by $9.905 billion to $716.90 billion during the week ended August 14, official data released by the Reserve Bank of…
Cross-border trade in local currencies reduces transaction costs: RBI deputy governor
Mumbai, Local currencies will play an ever-increasing role in cross-border trade and payments as they lower transaction costs, reduce currency mismatches, and improve settlement efficiency,…
RBI cuts FX swap window short after NRI deposits cross $50 billion
Mumbai: Strong inflows from a foreign deposit drive prompted the Indian central bank to cut short a zero-cost FX swap facility for banks, with policymakers…
Forex reserves soar to $707 billion, highest so far in current fiscal
Mumbai: India’s foreign exchange reserves rose $14.1 billion to $707 billion in the week ended August 7, the highest total reserves in this fiscal year….
RBI shortens FCNR (B) deposit swap window to Aug 31
Reserve Bank of India (RBI) has shortened the swap facility window for foreign currency non-resident (bank) or FCNR (B) deposits by a month to August…
India’s forex reserves jump $10.5 billion to over two-month high of $692.87 billion as of July 31
India’s foreign exchange reserves surged by $10.51 billion to $692.87 billion in the week ended July 31, pushing the country’s reserves to their highest level…