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RBI's concessional swap facility attracts USD 56.85 billion forex inflows

RBI's concessional swap facility attracts USD 56.85 billion forex inflows
Concessional swap facility attracts $56.85 bn forex inflows · thehansindia.com

The Reserve Bank of India is the central bank that looks after money in India.

It made a special offer to help bring more foreign money into the country.

Banks that receive foreign currency deposits can swap them with the RBI at a cheaper rate.

This friendly offer, called a concessional swap facility, started on June 8, 2026.

The offer worked very well, bringing in about 56.85 billion US dollars.

Most of that money, 52.3 billion dollars, came from special deposits called FCNR (B).

Because so many banks used the offer, the RBI will only accept new deposits until August 31.

This money helped India's savings of foreign money, called forex reserves, grow to 707 billion dollars.

This makes India's money situation stronger, especially when the rupee loses value against the US dollar.

Key facts

Total forex inflows attracted
USD 56.85 billion (till August 13)
FCNR (B) deposits
USD 52.3 billion
Overseas Foreign Currency Borrowings (OFCBs)
USD 2.805 billion
External Commercial Borrowings (ECBs)
USD 1.741 billion
New cut-off date for FCNR (B) deposits
August 31 (earlier: September 30)
Last date to avail swaps
September 11, 2026
Forex reserves as of August 7, 2026
USD 707.002 billion (up USD 14.136 billion)
Swap facility operationalised
June 8, 2026

Quotes

Reserve Bank of India

Central bank of India

“"Unlike 2013, the rupee has not appreciated significantly due to global uncertainties, geopolitical risks, and weaker capital flow dynamics. Additionally, RBI’s large forward forex obligations may constrain any visible rise in reserves,"”
indianexpress.com
“"The Swaps under this facility, i.e. FCNR (B) deposits, may be availed with the RBI till September 11, 2026,"”
theprint.in

Sources

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