RBI says USD 40.82 bn mobilised under forex swap facility till Jul 31

MUMBAI: The Reserve Bank on Saturday said its concessional swap facility, introduced to encourage foreign currency inflows, has attracted USD 40.82 billion till July 31.

The swap facility has seen avid interest and attracted steady forex inflows since June 8, 2026, the central bank said in a statement.

A strong mobilisation was witnessed through Foreign Currency Non-Resident (Bank) or FCNR (B) deposits.

Of the total inflows, FCNR (B) deposits accounted for USD 36.725 billion, while Overseas Foreign Currency Borrowings (OFCBs) contributed USD 2.575 billion while External Commercial Borrowings (ECBs) amounted to USD 1.516 billion.

With a view to strengthening the country's balance of payments and incentivising capital inflows, the Reserve Bank of India (RBI) had announced a series of measures, including a facility for offering concessional swaps for fresh FCNR(B) deposits, OFCB and ECB inflows on June 5.

Based on the data received from authorised dealer banks, the position of forex inflows mobilised till July 31, 2026, under the swap facility was USD 40.816 billion, the central bank said in a statement.

The facility was operationalised on June 8, 2026, and is available up to September 30, 2026, for the FCNR (B) deposits and up to December 31, 2026, for the OFCBs and ECBs.

The measures were announced as part of the RBI's efforts to strengthen India's external sector position and support foreign exchange liquidity amid global market uncertainties.