RBI’s USD-INR Swap Facility Mobilises USD 73 Billion in Forex Inflows

New Delhi, Aug 25 (KNN) The Reserve Bank of India’s special USD-INR swap facility has mobilised USD 73 billion in foreign exchange inflows as of August 21, 2026, with FCNR(B) deposits accounting for USD 65.40 billion of the total.

Launched on June 8, 2026, the facility covers FCNR(B) deposits, Overseas Foreign Currency Borrowings (OFCB) and External Commercial Borrowings (ECB).

The RBI has advanced the closure of the FCNR(B) window from September 30 to August 31, 2026, after the scheme achieved its objective ahead of schedule.

The USD 73 billion mobilisation was achieved in less than eleven weeks, surpassing the scale of the RBI’s 2013 FCNR(B) swap scheme, which raised around USD 26 billion over approximately three months.

The strong inflows, particularly through FCNR(B) deposits, reflect significant participation by Non-Resident Indians and are expected to strengthen India’s foreign exchange buffers.

(KNN Bureau)