Jul. 27 at 5:54 AM
🚨 BREAKING: India Attracts Nearly
$40 Billion in Overseas Capital
• India has attracted nearly
$40 billion in overseas capital since June, helping strengthen external buffers and support the rupee.
• Banks mobilised about
$32 billion through FCNR(B) deposits, RBI Governor Sanjay Malhotra told The Hindu BusinessLine.
• Foreign investors invested over
$7 billion in government securities after the RBI introduced measures in June.
• The inflows come as the RBI boosts forex reserves amid Middle East tensions, which recently pushed crude oil above
$100/barrel and pressured the rupee.
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