Forex boost: RBI’s special swap facility draws $40.8 bn in foreign inflows

Foreign exchange inflows under RBI’s special swap facility reached $40.816 billion by July end. This figure nearly doubled from $20.718 billion reported just two weeks prior. FCNR(B) deposits were the primary driver, contributing $36.725 billion to the total collections. Overseas foreign currency and external commercial borrowings also added substantial amounts. The facility aims to strengthen the balance of payments and incentivize capital inflows.