RBI ends FCNR(B) swap scheme, impacting rupee liquidity
pre-market1 source ↓written by the desknot a recommendation
- 31 August
- deadline
- 30 September
- in USD/INR
- 0.2% rise
- in USD/INR
- 95.61
The Reserve Bank of India ended its FCNR(B) FX swap facility on 31 August, ahead of the 30 September deadline, after attracting USD 52.3 bn in inflows. This closure reduces rupee liquidity and government bond demand, leading to a 0.2% rise in USD/INR to 95.61. Analysts suggest this move reflects rising liquidity costs and aims to stabilize the currency market.
Not investment advice. For informational purposes only.