Branch² Intelligence
Forex reserves rise $7.3 billion as FCNR & ECB flows pick up
Key takeaway
India's forex reserves rose $7.3bn driven by FCNR(B) deposits and ECB swap inflows.
- Step 1FCNR(B) and ECB swap inflows boost India's forex reserves by $7.3bn.
- Step 2Banks' foreign currency liquidity improves, lowering their cost of funds and enabling cheaper forex lending.
- Step 3SMEs with foreign currency loans or import payables face lower hedging costs and more competitive loan terms.
Source: Economic Times — Economy
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