How will the FCNR (B) deposits mobilised in currencies other than US Dollars be taken into account for the purpose of entering into swap with RBI? https://www.taxtmi.com/manuals?id=6443 FCNR(B) deposits in non US dollar currencies must be converted into an equivalent dollar amount at prevailing market rates on the day of the swap; banks must follow a consistent conversion policy and maintain proper documentation and audit trails of the procedure and rates used. en-us Fri, 13 Dec 2024 14:58:00 +0530 Fri, 13 Dec 2024 14:58:00 +0530 TaxTMI RSS Generator How will the FCNR (B) deposits mobilised in currencies other than US Dollars be taken into account for the purpose of entering into swap with RBI? https://www.taxtmi.com/manuals?id=6443 FCNR(B) deposits in non US dollar currencies must be converted into an equivalent dollar amount at prevailing market rates on the day of the swap; banks must follow a consistent conversion policy and maintain proper documentation and audit trails of the procedure and rates used. Manuals FEMA Fri, 13 Dec 2024 14:58:00 +0530 https://www.taxtmi.com/manuals?id=6443