RBI notes in the minutes of its August monetary policy that RBI has built a substantial dollar cushion to defend rupee. The central bank stated that the June 05th joint package of reforms by the RBI and the Ministry of Finance has received enthusiastic responses. In response to these incentives, as of July 31, 2026, a total of $36.725 billion has already been received under the FCNR(B) swap facility. Additionally, the bond market has witnessed healthy Foreign Portfolio Investment inflows through FAR. These forex inflows will support INR stability and help limit the impact of imported inflation, RBI stated.
Read more at the source
Disclaimer: The content of this post is sourced from external sites and is for informational purposes only. All rights and credits belong to the original authors and publishers.