'Banks collect $32 bn from dollar swap window'

Nov 30 2013, 00:49 IST
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SummaryThe rupee declined about 30 per cent against the US dollar between April and August.

The government has said RBI has received $32 billion from the special swap windows for deposits by non-resident Indians and overseas foreign currency borrowings by banks.

“$32 billion (as on date) that we have received on FCNR (B) and bank capitalisation,” economic affairs secretary Arvind Mayaram said. The RBI had announced the swap windows for foreign currency non-resident (bank) deposits and overseas borrowings by banks on September 4, after the rupee declined about 30 per cent against the US dollar between April and August. The facility is open till November 30. PTI

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