Will Latest RBI Moves Usher In Dollars?
  • Ekta Tibrewal
  • Sep 06 2013

September 6: RBI under Raghuram Rajan introduced swaps for foreign currency non-resident deposits, allowing banks to bring in foreign currency funds from their overseas branches. Banks' Indian ops can now also borrow up to 100% of their Tier-I capital abroad. Forex & Treasury Management Consultant A.V. Rajwade says the measures may raise $20-25 billion. “However, the worst is not over for the economy,” he says, adding that he is not too bullish about CAD coming down.