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