India’s Diaspora Deposit Window: The Price of a More Stable Rupee
India’s latest outreach to overseas Indians was not a diaspora bond, a tax concession or a sentimental appeal. It was something more technical and, in some ways, more revealing: a foreign-exchange swap arranged by the Reserve Bank of India (RBI). The result has been dramatic. Under a special USD-INR swap facility introduced on 8 June,






