RBI’s forex swap window attracts $127‑$136 billion in FCNR(B) deposits

By United One News · AI-generated summary of 7 outlets' reporting

Published 2 Sept 2026, 13:03 UTC · Updated 3 Sept 2026, 03:05 UTC

AI-generated summary of the coverage listed below: On June 8, 2026 the Reserve Bank of India launched a special USD‑INR forex swap facility covering FCNR(B) deposits, ECBs, and OFCBs to encourage foreign exchange inflows. The program drew about $127 billion in deposits, with some outlets reporting $136.37 billion, prompting the RBI to advance the scheme’s closure from September 30 to August 31, 2026 due to the unexpected volume. This move aims to strengthen India’s foreign‑exchange reserves and support the economy.

Covered by 7 outlets across the spectrum: 14% left, 43% center, 43% right.

How each side framed it

India draws $136 billion in forex inflows to defend rupee

RBI's forex swap facility draws massive $127 billion through FCNR(B) deposits

RBI Forex Swap Window Attracts $136.37 Billion, FCNR(B) Deposits Drive Inflows

Left-leaning outlets have under-covered this story. Of 7 outlets, only 1 are on the left of the spectrum.

Timeline

First reported by Business Today on 2 Sept 2026, 13:03 UTC; 7 articles from 7 outlets so far.

Who is covering this story

• Left-leaning (1): Scroll.in
• Center (3): Business Today, The New Indian Express, Hindustan Times
• Right-leaning (3): Times Now, Times of India, Deccan Chronicle

Sources

• RBI's forex swap facility draws massive $127 billion through FCNR(B) deposits — Business Today (center) · 2 Sept 2026, 13:03 UTC
• RBI Forex Swap Window Attracts $136.37 Billion, FCNR(B) Deposits Drive Inflows — Times Now (right-leaning) · 2 Sept 2026, 14:07 UTC
• India draws record $127 billion through forex deposits: RBI — Times of India (right-leaning) · 2 Sept 2026, 15:41 UTC
• NRIs flood banks with whopping $127 billion — The New Indian Express (center) · 2 Sept 2026, 18:27 UTC
• RBI's Forex Swap Draws $ 137.4 Billion Largely Through FCNR (B) Deposits — Deccan Chronicle (right-leaning) · 2 Sept 2026, 19:46 UTC
• Banks’ 'Certificate of Deposits' rates dip as FCNR flows hit $127 billion — Hindustan Times (center) · 3 Sept 2026, 02:05 UTC
• India draws $136 billion in forex inflows to defend rupee — Scroll.in (left-leaning) · 3 Sept 2026, 03:05 UTC

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