RBI's Special Swap Facility Attracts $40.8 Billion in Foreign Inflows

Forex boost: RBI's special swap facility draws $40.8 bn in foreign inflows

Foreign exchange inflows under RBI's special swap facility reached $40.816 billion by July end. This figure nearly doubled from $20.718 billion reported just two weeks prior. FCNR(B) deposits were the primary driver, contributing $36.725 billion to the total collections. Overseas foreign currency and external commercial borrowings also added substantial amounts. The facility aims to strengthen the balance of payments and incentivize capital inflows.

By SHIVANGHI PAYAL