ndia Receives $72.8 Billion in Dollar Inflows Under RBI !!

ndia Receives $72.8 Billion in Dollar Inflows Under RBI Swap Facility 💵🇮🇳 A major development for India's financial markets is the $72.8 billion in dollar inflows mobilised through the Reserve Bank of India's special swap facility. According to the RBI, the inflows received up to August 21 have come through FCNR(B) deposits, external commercial borrowings (ECBs) and overseas foreign-currency borrowings (OFCBs). The development is important because stronger foreign-currency availability can provide additional support to India's external liquidity position at a time when the rupee has been facing pressure. The development comes after a difficult week for Indian equities. The rupee ended August 21 at around ₹95.43 per US dollar, down 22 paise on the day, while elevated crude-oil prices and global bond yields continued to create pressure on emerging-market currencies and equities.