RBI swap window draws $20.72 bn in forex inflows

Mumbai: The Reserve Bank on Monday said its concessional swap facility, introduced to encourage foreign currency inflows, has attracted $20.72 billion till July 17.

The swap facility has seen avid interest and attracted steady forex inflows since June 8, 2026, the central bank said in a statement. A strong mobilisation was witnessed through Foreign Currency Non-Resident (Bank) or FCNR (B) deposits. Of the total inflows, FCNR (B) deposits accounted for $17.406 billion, while Overseas Foreign Currency Borrowings (OFCBs) contributed $1.97 billion and External Commercial Borrowings (ECBs) amounted to $1.342 billion. “With a view to strengthening our balance of payments and incentivising capital inflows, the RBI had announced a series of measures, including a facility for offering concessional swaps for fresh FCNR(B) deposits, OFCB and ECB inflows on June 5, 2026,” the central bank said.

The Reserve Bank of India (RBI) had introduced the swap facility on June 5, 2026, as part of a host of measures to strengthen India’s balance of payments and incentivise capital inflows. The facility was operationalised on June 8, 2026, and is available up to September 30, 2026, for the FCNR (B) deposits and up to December 31, 2026, for the OFCBs and ECBs. The measures were announced as part of the RBI’s efforts to strengthen India’s external sector position and support foreign exchange liquidity amid global market uncertainties.