The Reserve Bank of India collected a record $127.23 billion in foreign-currency inflows from its 35-million-strong diaspora through a special dollar-swap window since June. This significant mobilization provides policymakers with a larger cushion to support the rupee against potential external pressures. The initiative leveraged Foreign Currency Non-Resident, or FCNR (B), deposits to attract substantial capital from overseas Indians.
The record amount underscores the growing financial influence of the diaspora on India's external sector stability.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing