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The Reserve Bank of India's (RBI) special swap facility has attracted more than USD 20.7 billion in foreign exchange inflows till July 17, reflecting strong investor response to the central bank's measures aimed at strengthening the country's balance of payments.
In a press release issued on Monday, the RBI said the swap facility, introduced in June to encourage foreign currency inflows, "has seen avid interest and attracted steady forex inflows since June 8, 2026." The central bank said the facility was announced on June 5 and operationalised on June 8 "with a view to strengthen our balance of payments and incentivise capital inflows." It covers fresh Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits, Overseas Foreign Currency Borrowings (OFCBs) and External Commercial Borrowings (ECBs). According to data released by the RBI, the total forex inflows mobilised under the facility stood at USD 20.718 billion as of July 17. Of the total, FCNR(B) deposits accounted for USD 17.406 billion, making up the bulk of the inflows. Overseas Foreign Currency Borrowings contributed USD 1.97 billion, while External Commercial Borrowings brought in USD 1.342 billion, the RBI data showed. The RBI said the figures are "based on the data received from Authorised Dealer Banks" and reflect inflows mobilised under the special swap facility till July 17. The central bank said the concessional swap facility for FCNR(B) deposits will remain available until September 30, 2026, while the facility for OFCBs and ECBs will continue until December 31, 2026. The measures were announced by the RBI to support India's external sector by encouraging overseas foreign currency inflows into the country. (ANI)
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