RBI swap facility draws $40 . 8 billion forex inflows till July 31 , nearly double July 17 level

The Reserve Bank of India’s special swap facility has attracted $40.816 billion in foreign exchange inflows as of the end of July. This total represents a significant increase from the $20.718 billion reported just two weeks earlier, effectively doubling the amount collected through the initiative in a short period.

Foreign Currency Non-Resident (Bank) deposits served as the primary driver for these inflows, accounting for $36.725 billion of the total collections. The facility was established to bolster foreign exchange reserves and provide additional liquidity, with the recent surge in participation highlighting a substantial shift in capital inflows within the specified timeframe.