Delhi : The finance ministry expects inflows of $25 billion by November-end through forex swap windows opened by the RBI to attract deposits from non-resident Indians and allow banks to borrow overseas.“Till November 30, our (FCNR-B) window is open. We might even touch $25 billion,” economic affairs secretary Arvind Mayaram said on Tuesday. Until Monday, RBI had received $17.5 billion through the special windows for swapping foreign currency non-resident (bank) deposits and overseas foreign currency borrowings by banks. Both were started on September 4 to prop up the rupee.

Advertisements