India draws 143.6B dollars in forex swap inflows
India has attracted 143.6 billion dollars in forex inflows under a central bank swap facility. The Reserve Bank of India introduced these measures to shore up the rupee. Foreign currency deposits accounted for the vast majority of the total inflows.
India attracted $143.6B in forex inflows under its concessional swap facility as of September 18, according to central bank data released on Monday afternoon. The surge follows policy measures introduced in June to shore up the rupee after it dropped to record lows earlier this year. The inflows provide vital foreign currency support as the central bank manages currency stress through diaspora deposits and overseas borrowings.
