RBI's USD-INR Swap Facility Mobilises USD 73 Billion In Forex Inflows
Launched on June 8, 2026, the facility covers FCNR(B) deposits, Overseas Foreign Currency Borrowings (OFCB) and External Commercial Borrowings (ECB).
The RBI has advanced the closure of the FCNR(B) window from September 30 to August 31, 2026, after the scheme achieved its objective ahead of schedule.
The USD 73 billion mobilisation was achieved in less than eleven weeks, surpassing the scale of the RBI's 2013 FCNR(B) swap scheme, which raised around USD 26 billion over approximately three months.
The strong inflows, particularly through FCNR(B) deposits, reflect significant participation by Non-Resident Indians and are expected to strengthen India's foreign exchange buffers.
(KNN Bureau)
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept any
responsibility or liability for the accuracy, content, images, videos,
licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright issues
related to this article, kindly contact the provider above.
Comments
No comment