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To your June 8, 2026, the new Reserve Bank away from India launched an excellent United states Dollars-Rupee Fx Swap Facility to own new FCNR(B) deposits. Lower than it strategy, RBI carries a full money hedging cost for Indian financial institutions to own FCNR dumps of less than six years. While the banking institutions no more need to pay to possess currency hedging by themselves, they’re able to offer significantly highest rates to help you depositors. This is actually the key reasoning rates features transferred to 6 to 7percent yearly inside USD.