I was reading about the 5B $ currency swap scheme by the RBI: https://economictimes.indiatimes.com/markets/stocks/news/fpis-may-bring-5-billion-into-debt-securities-via-vrr/articleshow/68351817.cms
If I understand this correctly, the RBI would buy $$ and offer a fixed rate of interest and a fixed 3 year forward rate to buy sell the $$ back to the investors. And thus this would be an opportunity for investing.
It seems that institutional investors and FPI will benefit from this scheme. I was wondering if it would be possible for NRI’s to somehow benefit from this scheme. I was thinking of two routes:
- Since FPI’s can invest in this[1]. Could someone recommend if there is a way to “take” the FPI route? For example maybe some funds that own a FPI might allow me to invest with them?
- Any other institutional investors I can invest with that anyone can suggest here?
Best
Sid
1: SEBI has allowed NRIs to be part of FPIs.