Foreign currency mobilisation under the Reserve Bank of India’s special USD-INR swap facility has reached $72.85 billion, with FCNR(B) deposits accounting for the overwhelming share of funds raised through the scheme. According to data released by the RBI on August 22, authorised dealer banks reported $65.397 billion in inflows through Foreign Currency Non-Resident (Bank) deposits as of August 21. Overseas foreign currency borrowings (OFCBs) contributed another $4.86 billion, while external commercial borrowings (ECBs) brought in $2.591 billion.
