India draws $136 billion in forex inflows
India attracted a larger than expected $136 billion in foreign inflows through special schemes. The funds boosted reserves and strengthened the central bank's ability to defend the rupee.
Xurve View
Insights:
Xurve View
India attracted $136.38 billion in foreign inflows through diaspora deposit schemes, exceeding expectations and boosting central bank reserves. The program was launched in June after surging Brent Crude Oil prices and supply disruptions linked to the United States-Iran conflict threatened the balance of payments. The inflows strengthen the Reserve Bank of India's ability to defend the local currency against external shocks.
