The Economic Times

India's $127 billion NRI deposits arm gives RBI more firepower, setting rupee up for rally

On Thursday, predictions suggest that the Indian rupee will continue its upward trajectory. This optimism stems from substantial foreign currency deposits enhancing the central bank's ability to provide support. India's unique mobilization schemes attracted over $136 billion, resulting in a marked increase in foreign exchange reserves, coupled with positive movements in other Asian currencies that contribute to the rupee's strength.