India's balance of payments projected to post $50 billion surplus in FY27
- India's balance of payments is set to post a $50 billion surplus in FY27 with the current account deficit at 1% of GDP.
- The RBI's FCNRB scheme attracted $57 billion in inflows, with total collections expected to reach $85 billion by end of August.
- The RBI's swap facility hedging cost was estimated at $10.5 billion, just 1.45% of India's $700 billion foreign exchange reserves.
- The rupee is expected to appreciate to Rs 95-95.5 per dollar amid rising US Treasury yields and Strait of Hormuz disruption risks.
Source: moneycontrol.com
Get 100 stories a day on the app
Read, watch & listen · Free on iOS & Android
