RBI Sees Rupee as Undervalued, Inflows Reach $32 Billion

RBI Sees Rupee as Undervalued, Inflows Reach $32 Billion

The Reserve Bank of India's (RBI) recent measures to attract foreign capital have garnered strong investor response, with banks mobilising nearly $32 billion in Foreign Currency Non-Resident (Bank) or FCNR(B) deposits, while government securities have attracted over $7 billion in foreign inflows since the June policy measures. RBI Governor Sanjay Malhotra has welcomed the strong investor response, saying that the measures have helped to attract foreign capital and stabilise the rupee. The RBI's efforts to attract foreign capital are part of its broader strategy to maintain economic stability and promote growth. With the rupee seen as undervalued by the RBI, the central bank is likely to continue its efforts to attract foreign capital and maintain economic stability.