RBI's Forex Facility Draws in $72.85 Billion Ahead of Deadline

The Reserve Bank of India's (RBI) special USD-INR forex swap facility has attracted total inflows of $72.85 billion as of August 21, according to data released by the central bank.

FCNR(B) deposits emerged as the dominant contributor, accounting for $65.40 billion of the total inflows, or nearly 90 per cent of the overall figure. OFCBs contributed $4.86 billion, while ECBs brought in $2.59 billion.

The facility was introduced in June 2026 and is designed to channel foreign currency inflows through three routes, Foreign Currency Non-Resident (Bank) or FCNR(B) deposits; external commercial borrowings (ECBs); and overseas foreign currency borrowings (OFCBs).