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India Raises Record $127 Billion in Forex Deposits From Diaspora
Source: Bloomberg
Banking & LiquidityCurrency & FXEmerging Markets
India received a record ~$127B in foreign-currency inflows via a special dollar-swap window for its diaspora since June, providing policymakers a larger FX buffer. The added liquidity is intended to help support the rupee if external pressures rise, which should be mildly supportive for INR near term.
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