RBI's Swap Facility Mobilises $40.8 Billion by July 31

The Reserve Bank of India said its concessional forex swap facility had drawn $40.82 billion through July 31, 2026. The facility, opened June 8, is designed to boost foreign currency inflows and strengthen the country's external accounts.

FCNR(B) deposits accounted for $36.725 billion of the total, the central bank said in a statement. Overseas foreign currency borrowings and external commercial borrowings made up the remaining $4.091 billion.

The RBI described the response as "avid interest" with steady inflows since the window became operational. The facility was announced June 5 as part of a package aimed at shoring up India's balance of payments and incentivising capital inflows.

For FCNR(B) deposits, the swap window closes September 30, 2026. For OFCBs and ECBs, the facility remains available through December 31, 2026.