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# Reserve Bank of India draws $143.6 billion through concessional currency swaps
- URL: https://www.theglobalbanker.com/reserve-bank-of-india-drew-143-6-billion-through-concessional-currency-swaps/
- Published: 2026-09-21T15:39:48.000Z
- Updated: 2026-10-02T01:31:13.000Z
- Description: The Reserve Bank of India reported $143.596 billion of foreign-currency inflows under concessional swap facilities by 18 September, led by $132.98 billion of FCNR(B) deposits.
- Author: TGB Editorial Team
- Tags: Central Banks, Asia-Pacific

The Reserve Bank of India reported $143.596 billion of foreign-currency inflows through its concessional swap facilities as at 18 September. Foreign Currency Non-Resident Bank deposits supplied $132.98 billion of that total. Overseas foreign-currency borrowings contributed $5.32 billion, while external commercial borrowings added $5.296 billion. The FCNR(B) figure covers deposits mobilised until 31 August.

The RBI introduced the special USD-INR forex swap facility, covering FCNR(B) deposits, external commercial borrowings and overseas foreign-currency borrowings, on 8 June 2026\. Eligibility for the FCNR(B) deposit window ended on 31 August. The borrowing windows remain open through 31 December.

#### DEPOSITS DROVE THE INFLOWS

FCNR(B) deposits accounted for more than nine-tenths of the reported inflows, making them the dominant source under the programme. The two borrowing channels were much smaller but together added more than $10.6 billion. 

The RBI absorbed the entire hedging cost on the principal of FCNR(B) deposits with maturities of three to five years, Deccan Chronicle reported. 

#### TWO WINDOWS REMAIN OPEN

The closure of the FCNR(B) window means the largest source of inflows has stopped accepting new eligible deposits under these terms. Overseas foreign-currency borrowing and external commercial borrowing can still add funds before year-end.