India's RBI Swap Facility Draws $40.8 Billion in Forex Inflows

MT Newswires Live
Aug 03

India attracted $40.8 billion in foreign currency inflows under the Reserve Bank of India's concessional swap facility as of July 31, according to a Reserve Bank of India release on Friday.

The inflows included $36.7 billion in FCNR(B) deposits, $2.6 billion in overseas foreign currency borrowings, and $1.5 billion in external commercial borrowings.

The central bank launched the swap facility in June to encourage fresh inflows of foreign currency.

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