RBI — RBI's dollar swap facility attracts $20.72B, FCNR deposits lead inflows

The Reserve Bank of India's dollar swap facility has attracted total inflows of $20.72 billion as of July 17, driven primarily by non-resident Indian deposits. Foreign Currency Non-Resident (FCNR-B) deposits accounted for the largest share with $17.41 billion under a new incentive scheme launched on June 8. The facility also drew $1.97 billion in overseas foreign currency borrowings and $1.34 billion through external commercial borrowings.