The RBI’s special USD-INR swap facility has attracted $73 billion in foreign exchange inflows, strengthening India’s external financial buffers and liquidity.

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• The Reserve Bank of India’s special USD-INR foreign exchange swap facility has mobilised total foreign exchange inflows worth $73 billion as of August 21, 2026.
• The facility was launched on June 8, 2026 for FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings.
• FCNR(B) deposits contributed $65.40 billion to the total inflows, reflecting strong participation from Non-Resident Indians and confidence in India’s banking system.
• The $73 billion mobilisation was achieved in less than 11 weeks, significantly exceeding the scale and pace of the RBI’s 2013 FCNR(B) swap scheme.
• The 2013 RBI swap scheme mobilised around $26 billion over nearly three months, while the latest facility has recorded substantially higher inflows.
• Strong participation has enabled the RBI to advance the closure of the FCNR(B) window from September 30 to August 31, 2026.
• The Ministry of Finance said the scheme has strengthened India’s external buffers by securing large-scale long-term non-resident deposits and institutional funding.
• The government said the response highlights the strong role of the Indian diaspora in supporting India’s economic growth through increased foreign currency deposits.