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RBI's Forex Measures Attract $32 Billion, Mostly via FCNR(B) Deposits
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The Reserve Bank of India's (RBI) forex measures have attracted nearly $32 billion, mostly through FCNR(B) deposits, according to RBI Governor Sanjay Malhotra.
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RBI's Forex Measures Attract $32 Billion, Mostly via FCNR(B) Deposits
The Reserve Bank of India's (RBI) forex measures have attracted nearly $32 billion, mostly through FCNR(B) deposits, according to RBI Governor Sanjay Malhotra. The measures, aimed at stabilizing the rupee, have also seen foreign investors adding over $7 billion to government securities. The RBI's efforts to attract foreign capital have been successful, with the rupee now considered undervalued. The RBI's measures have helped to stabilize the currency and attract foreign investment, which is a positive sign for the Indian economy.
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