It’s about NRIs quietly pumping $127 billion into FCNR(B) deposits, helping RBI shore up reserves and stabilize the rupee. Why? Because when global investors pull out, NRIs step in. Their dollar deposits act like a financial cushion; protecting the currency from rapid falls. Markets are watching U.S. job data closely, but the real anchor? Indian families abroad sending money home. This isn’t just economics; it’s emotional capital turning into financial strength. And that’s why the rupee held steady even as FII outflows pressured our balance of payments. The takeaway? Sometimes, the quietest money moves make the biggest impact.