Forex mop up under RBI's swap scheme doubles to over $40bn
RBI's concessional dollar swap facility has crossed $40 billion in forex mobilization.
Total mobilization reached $40.8 billion as of July 31, more than doubling from $17.4 billion in mid-June.
FCNR(B) deposits accounted for $36.7 billion of the total, exceeding the $26 billion raised under the 2013 special scheme.
Overseas foreign currency borrowings contributed $2.6 billion and external commercial borrowings $1.5 billion.
The facility is available for FCNR(B) deposits until Sept 30, 2026, and for OFCBs and ECBs until Dec 31, 2026.
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