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The Economic Times
The Economic Times

RBI's measures may attract USD 60-70 billion foreign capital, support rupee: India Ratings

New Delhi: The RBI's forex swap measures on FCNR (B) deposits and ECBs by state-owned companies could attract USD 60-70 billion in foreign capital and support the rupee, India Ratings and Research (Ind-Ra) said on Wednesday.

The central bank, on June 8, announced that authorised dealer banks can access the RBI's swap facility for Foreign Currency Non-Resident (Bank) (FCNR (B) deposits with maturities ranging from 3-5 years till September 30. The facility would allow banks to swap US dollar deposits with the regulator and manage currency risks.

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