RBI’s forex swap facility draws over $136 billion
The Reserve Bank of India’s special USD-INR forex swap facility drew more than $136 billion, of which over $127 billion was mobilised through Foreign Currency Non-Resident (Bank), or FCNR(B), deposits. The RBI had launched the facility on June 8, 2026 to counter forex outflows driven by high oil prices and the exit of Foreign Portfolio Investors from the stock market, helping shore up external buffers.
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FCNR(B) deposits and RBI swap operations are recurring banking-awareness topics.
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- Swap facility drew over $136 billion
- More than $127 billion mobilised via FCNR(B) deposits
- Launched by the RBI on June 8, 2026
- Aimed at forex outflows from high oil prices and FPI exits
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