RBI forex swap facility mobilises $73 billion, driven by $65.4 billion in FCNR deposits
By United One News · AI-generated summary of 2 outlets' reporting
Published · Updated
AI-generated summary of the coverage listed below:
- The Reserve Bank of India’s special USD‑INR forex swap facility, launched on June 8 for FCNR(B) deposits, overseas foreign currency borrowings, and external commercial borrowings, has attracted $73 billion in foreign exchange inflows as of August 21, according to a Finance Ministry statement.
- The bulk of the inflow—$65.4 billion—comes from FCNR deposits, strengthening India’s foreign‑currency reserves amid global market volatility.
Covered by 2 outlets across the spectrum: 0% left, 100% center, 0% right.
How each side framed it
RBI forex swap facility mobilises $73 billion, driven by $65.4 billion in FCNR deposits
Timeline
First reported by Mint on ; 2 articles from 2 outlets so far.
Who is covering this story
- Center (2): Mint, Free Press Journal