RBI sees rupee as undervalued; FCNR(B) inflows cross $32 billion
RBI Governor Sanjay Malhotra reports that recent measures to attract foreign capital have successfully generated over $32 billion in FCNR(B) deposits. He maintains that the rupee is currently undervalued and that the central bank has sufficient tools to manage liquidity and currency volatility.
The Reserve Bank of India’s (RBI) recent measures to attract foreign capital have garnered strong investor response, with banks mobilising nearly $32 billion, largely through Foreign Currency Non-Resident (Bank) or FCNR(B) deposits, while government securities have attracted more than $7 billion in foreign inflows since the June policy measures, RBI Governor Sanjay Malhotra has said.
Get the full story
Sign up for Headlinne to unlock AI insights, political bias analysis, and your personalized news feed.
Create free accountAlready have an account? Sign in