India's forex boost: RBI's swap scheme raises $20.72 billion so far
The Reserve Bank of India's special swap facility has attracted $20.72 billion in foreign currency inflows since June 2026. The initiative aims to bolster the country's balance of payments and stabilize foreign exchange liquidity.
Why it matters
This reflects India's strategic efforts to manage its external sector and currency stability amidst global economic uncertainty.
Reserve Bank of India's special swap facility to attract foreign currency brought in $20.72 billion till July 17, with most of the money coming through Foreign Currency Non-Resident (Bank), or FCNR(B), deposits.The RBI said on Monday that the concessional swap scheme has seen steady foreign exchange inflows since it was launched on June 8, 2026. It added that FCNR(B) deposits have made up the biggest share of the total inflows.Data released by the RBI showed that FCNR(B) deposits contributed $17.406 billion of the total inflows.
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