Over $20 billion mobilised through RBI’s special swap facility
The Reserve Bank of India has successfully mobilized over $20 billion through a special foreign currency swap facility. This initiative, launched in June 2026, aims to strengthen India's balance of payments and incentivize capital inflows.
Why it matters
The success of this facility is a key indicator of India's economic stability and its ability to attract foreign exchange during volatile periods.
The Reserve Bank of India’s (RBI) foreign currently swap facility operationalised through Foreign Currently Non-Resident-Bank {FCNR(B)} deposits, External Commercial Borrowings (ECBs) and Overseas Foreign Currency Borrowings (OFCBs) to mobilise foreign exchange has generated more than 20 billion, according to data released by the central bank on Monday.
“The swap facility has seen avid interest and attracted steady forex inflows since
Based on the data received from authorised dealer banks, the position of forex inflows mobilised till July 17, 2026 was a total of $20.72 billion.
This includes $17.4 billion through FCNR (B), $1.97 billion through OFCBs and $1.34 via ECBs.
To strengthen India’s balance of payments and incentivise capital inflows, 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.
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