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Posted at: Jun 12, 2018, 12:35 AM; last updated: Jun 12, 2018, 12:35 AM (IST)

Mulls raising $35 bn to back rupee: Report

New Delhi, June 11

The RBI is expected to raise $30-35 billion through NRI bonds to support the rupee and offset the slowdown in FPI flows amid rising oil prices, says a Bank of America Merrill Lynch report. The FPI inflows to India will be impacted by Chinese firms listing in global benchmark indicies like MSCI, it said.

“We grow more confident that the RBI will issue a fourth tranche of NRI bonds to raise, say, $30-35 billion, to offset slowdown in FPI flows on listing of China paper in various benchmark indices at a time of higher oil prices,” the report noted. — PTI

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