RBI ends FCNR(B) swap scheme, impacting rupee liquidity
after close1 source ↓written by the desknot a recommendation
- 95.61
- since July
- 94.70-96.70
The Reserve Bank of India closed its FCNR(B) FX swap facility on 31 August, attracting USD 52.3 bn in inflows. This early termination reduces rupee liquidity and demand for government bonds, following rising liquidity costs. Post-announcement, USD/INR rose 0.2% to 95.61, though it has fluctuated between 94.70-96.70 since July.
Not investment advice. For informational purposes only.