RBI says forex inflows under swap facility reach $72.85 billion as FCNR(B) mobilisation tops $65 Billion

According to RBI data released on Saturday, foreign‑currency inflows under the special USD‑INR swap facility reached $72.85 billion as of 21 August, with FCNR(B) deposits providing the bulk of the funds raised under the scheme.

The RBI noted that authorised dealer banks recorded $65.397 billion of inflows via Foreign Currency Non‑Resident (Bank) [FCNR(B)] deposits under the facility by 21 August. This was followed by overseas foreign‑currency borrowings (OFCBs) at $4.86 billion and external commercial borrowings (ECBs) at $2.591 billion.

The central bank launched the special USD‑INR forex swap facility on 8 June, covering inflows through FCNR(B) deposits, ECBs and OFCBs. The aim of the facility is to bolster foreign‑currency inflows via these channels and enhance the availability of foreign exchange in India’s domestic financial system.

Under the arrangement, the window for FCNR(B) deposits stays open until 31 August, while the facility for ECBs and OFCBs remains accessible until 31 December, the RBI said. The latest figures show that FCNR(B) deposits have become the leading source of foreign‑currency mobilisation under the facility, contributing almost 90 percent of the total inflows reported to date.

Combined inflows from OFCBs and ECBs amounted to roughly $7.45 billion. This strong mobilisation comes just before the end‑August deadline for FCNR(B) deposits, underscoring the enthusiastic response from banks and overseas depositors to the RBI’s special forex facility.

The RBI had previously announced that the FCNR(B) window would close on 31 August, with the ECB and OFCB components continuing for a longer period. The latest numbers provide an update on how authorised dealer banks have utilised the facility through 21 August.

The $72.85 billion inflow across the three components reflects a substantial mobilisation of foreign currency through the RBI‑backed framework, with FCNR(B) deposits remaining the primary contributor.

Published on August 22, 2026