Why $49 billion in foreign inflows, led by FCNRB deposits, haven’t lifted the rupee
India received $49 billion in foreign inflows through Foreign Currency Non-Resident (Bank) deposits and other investments over June and July, yet the rupee barely strengthened, closing at 95.39 per dollar. The Reserve Bank of India's interventions, hedging strategies, and global economic risks have limited the rupee's appreciation, contrasting sharply with a similar situation in 2013 when the rupee rose significantly. Economists from ANZ noted that such schemes are more effective when addressing local issues rather than global uncertainties.