Policy Parameters Interactive
Target Mobilization (USD Bn)
$30.0 B
RBI Concessional Swap Rate (%)
3.50%
Market Forward Swap Rate (%)
6.20%
Diaspora Deposit Yield (FCNR-B)
7.50%
Global Benchmark Rate (SOFR)
4.80%
Monthly CAD Deficit Drag (USD Bn)
$6.5 B
Deposit Tenor (Years)
3 Years
Bank Swap Spread
+2.70%
Mkt 6.20% - RBI 3.50%
NRI Yield Premium
+2.70%
Over Global SOFR (4.80%)
RBI Swap Subsidy Cost
$2.43 B
Quasi-fiscal annual
FX Reserve Runway
42 Mos
+12 Mos vs unhedged
Forex Reserve Trajectory: Concessional Intervention vs. Baseline Runoff
USD Billions (36-Month Horizon)
With RBI Diaspora Swap Mobilization
Unhedged Baseline Runoff (No Subsidy)
Quasi-Fiscal Cost Accounting & Forward Commitment Ledger
Cumulative Amortization
| Horizon | Intervention Reserves | Baseline Reserves | Reserve Delta | Cumulative RBI Subsidy | Est. USD/INR Spot |
|---|