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India gains over 40 billion dollars in FDI
India has attracted over $40 billion in foreign capital since June to bolster the Reserve Bank's reserves and stabilize the rupee amid rising oil prices. Total non-resident deposits in foreign currency reached approximately $36.72 billion by July, and with other inflows, this amount rises to about $41 billion. In July, the central bank sold around $7 billion to support the rupee after oil prices surged above $100 per barrel due to geopolitical tensions, though they later declined to around $90. The bank's governor stated that the rupee's decline reflects global market conditions rather than weakness in the Indian economy, and measures have been taken to support currency stability, including increasing interest rates on non-resident deposits.
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