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India gets $3.6 bln via concessional FX swap windows - RBI official
September 30, 2013 / 9:32 AM / 4 years ago

India gets $3.6 bln via concessional FX swap windows - RBI official

MUMBAI, Sept 30 (Reuters) - India received $3.6 billion through the two concessional foreign exchange swap facilities as of Monday, said an official at the Reserve Bank of India (RBI), who declined to be identified.

These swap arrangements have been provided by the RBI to banks for attracting more dollar funds to help finance the country’s wide current account deficit.

According to bankers, about $8-$10 billion is expected to come through the foreign currency non-resident deposits, while about $5 billion through a relaxed Tier I capital raising window. (Reporting by Suvashree Dey Choudhury; Editing by Anand Basu)

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