RBI's forex swap facility draws over $136 billion; $127 billion via FCNR(B)
The Reserve Bank of India's special USD-INR foreign exchange swap facility has drawn over $136 billion, with more than $127 billion mobilised through Foreign Currency Non-Resident Bank — FCNR(B) — deposits. The RBI had introduced the facility on 8 June this year to counter forex outflows driven by high oil prices and the exit of foreign portfolio investors from the stock market.
Nabka Insight
RBI's forex tools and FCNR(B) deposits are standard banking-awareness topics.
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- RBI's USD-INR swap facility drew over $136 billion.
- More than $127 billion mobilised via FCNR(B) deposits.
- Facility introduced on 8 June 2026.
- Aim: counter forex outflows from high oil prices and FPI exit.
Background
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