New Delhi draws in $73 billion in 11 weeks, powered by special deposits for non-resident Indians
Summary
India attracted $73 billion in inflows over 11 weeks, with foreign-currency deposits from nonresident Indians providing most of the support. The surge has strengthened the country’s external financing position.
The scale and speed of the inflows give policymakers more room to manage currency volatility
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The inflow surge materially improves India’s near-term dollar liquidity but does not eliminate its exposure to capital reversals.