RBI Forex Swap Scheme Attracts $72.85 Billion Inflows, FCNR(B) Deposits Account For Lion’s Share

Foreign exchange inflows through the Reserve Bank of India’s special USD-INR forex swap facility have reached $72.85 billion as of August 21, according to report by Business Standard citing data submitted by authorised dealer banks to the central bank. Foreign Currency Non-Resident (Bank), or FCNR(B), deposits account for the bulk of the inflows at $65.397 billion. External Commercial Borrowings…