RBI says forex inflows under swap facility cross $40 billion by July-end

The Reserve Bank of India (RBI) on August 1 said its concessional swap facility has mobilised $40.82 billion in foreign currency inflows till July 31, 2026, led by strong inflows through Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits.According to data reported by authorised dealer banks, FCNR(B) deposits accounted for $36.73 billion of the total inflows, while Overseas Foreign Currency Borrowings (OFCBs) contributed $2.58 billion and External Commercial Borrowings (ECBs) added $1.52 billion.The RBI had announced the special swap facility on June 5, 2026, and operationalised it from June 8 to encourage foreign currency inflows and strengthen external sector liquidity.Under the facility, banks can mobilise fresh FCNR(B) deposits and raise overseas borrowings while availing concessional swaps with the RBI. The central bank had also said it would bear the cost of hedging under the facility.The swap window for FCNR(B) deposits is available until September 30, 2026, while the facility for OFCBs and ECBs will remain open until December 31, 2026.The RBI had introduced the measure as part of a broader package announced after its June monetary policy review to support durable foreign exchange inflows and ensure adequate liquidity in the foreign exchange market.First Published: Aug 1, 2026 10:22 AM IST

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