04-August-2026
Markets and Finance
 
$100 bn in sight: India is rolling in dollars but what about the rupee
03-Aug-2026

Two months after the Reserve Bank of India (RBI) unveiled a package of measures to attract foreign currency, the numbers are beginning to look extraordinary. Banks have already mobilised more than $36 billion through FCNR(B) deposits, while other special borrowing windows have added billions more, totalling nearly $41 billion. Some economists now believe the final tally could approach $100 billion if the current momentum persists. Yet the rupee tells a very different story. At around 95.31 to the dollar, the currency is almost exactly where it was when the special schemes were announced in early June. The apparent disconnect has triggered a natural question -- if India is attracting so many dollars, why is the rupee not strengthening

News Source:- https://economictimes.indiatimes.com/news/economy/policy/100-billion-in-sight-india-is-rolling-in-dollars-but-what-about-the-rupee-indian-rupee-vs-dollar-rate/articleshow/132826025.cms