India Expects 80 Billion in Forex Swap Inflows
India anticipates at least eighty billion dollars in total inflows through three subsidised swap facilities opened in June. Central bank governor Sanjay Malhotra stated the move strengthens foreign exchange reserves and reflects strong macroeconomic fundamentals.
India expects $80 billion in foreign inflows through subsidized swap facilities opened in June, central bank governor Sanjay Malhotra said Thursday morning. The inflows bolster the country's balance of payments and reflect strong macroeconomic fundamentals. The central bank recently closed one discounted swap facility for non-resident Indian dollar deposits earlier than anticipated amid stronger-than-expected demand.
