Asia Insights Global Markets Research Foreign Exchange - Asia ex-Japan Thoughts on India FX and rates The RBI announced an early closure of the FCNR(B) scheme, stating that it will only be available for deposits made by 31 August 2026 (it originally planned to end the scheme on 30 September). Our economics team highlighted several potential reasons for the early closure, including a large accumulation of USD from the scheme and rising cost considerations. From an FX strategy perspective, we maintain our vie ...