As on August 31, forex inflows under the special swap facility of the Reserve Bank of India (RBI) totalled $136.38 billion, Foreign Currency Non-Resident (Bank), or FCNR(B) deposits, accounting for the lion's share of the inflows, reports said.

Key Highlights

• Special swap facility mobilised USD 136.38 billion as of August 31, with FCNR(B) deposits contributing USD 127.23 billion.
• FCNR(B) inflows jumped by 87% from August 21 to 31, and provided more than 93% of the total mobilisation.

According to the provisional data, the FCNR(B) deposits in the country amounted to $127.23 billion, Overseas Foreign Currency Borrowings (OFCBs) to $5.26 billion and External Commercial Borrowings (ECBs) to $3.89 billion.

RBI Introduced the Facility in June to Boost Forex Liquidity

The central bank had earlier unveiled the special swap facility on June 8, 2026, for the foreign currency funds coming through FCNR(B) deposits, ECBs and OFCBs, to shore up the external sector and enhance foreign exchange liquidity in times of global financial market uncertainty.

The central bank said that RBI has launched a special facility called Forex Swap facility for FCNR(B) deposits, ECB and OFCB inflows on June 08, 2026. The facility for FCNR(B) deposits would be available till August 31 and the facility for ECBs & OFCBs will remain available till the end of December.

As already announced in the Press Release dated 14th August 2026, the Scheme is open till 31st August 2026 for deposits under the FCNR(B) Scheme and up to 31st December 2026 for deposits under the ECBs and OFCBs, the RBI said.

FCNR(B) Inflows Accelerated Sharply in Final Days of the Window

The FCNR(B) window's flows picked up significantly during the last week. According to the last report of the RBI, total inflows at the end of August 21 stood at $72.85 billion, of which $65.40 billion came from FCNR(B) deposits.

This corresponds to an increase in total inflows of approximately $63.53 billion or 87% during the period August 21 to August 31. FCNR(B) deposits contributed over 93% of total inflows as of August 31, with an increase of about $61.83 billion in this category during this period.

FCNR(B) Deposits Dominate Overall Mobilisation

The FCNR(B) deposits.yielded a mobilization of $127.23 billion, which accounted for about 93.3 per cent of the total mobilization of $136.38 billion under the facility. The OFCBs valued at $5.26 billion, about 3.9% of the total, whereas the ECBs valued at $3.89 billion, about 2.9% of the total.

The data throws light on the overwhelming contribution from FCNR(B) deposits towards the overall mobilisation programme, indicating that the mobilisation done through FCNR(B) deposits was almost 24 times that from OFCBs and over 32 times that from ECBs.

FCNR(B) deposit is a type of fixed deposit that is held by a non-resident customer with an Indian bank in a foreign currency. The principal and interest of such deposits are returned in the same foreign currency providing protection to depositors against fluctuations in rupee's value.

Also Read: FPI Inflows Hit Rs 27,186 Crore in August, Highest Since 2024

ECBs and OFCBs Add $9.15 Billion

The RBI swap window also allowed banks to raise foreign currency through ECBs and OFCBs. Together, these two routes mobilised $9.15 billion as of August 31. OFCBs refer to foreign-currency borrowings raised by eligible Indian entities from overseas sources, while ECBs provide another channel for Indian companies to access foreign currency funding from international markets.

While these channels contributed to the overall mobilisation effort, FCNR(B) deposits remained the dominant source by a wide margin, according to RBI data.

The central bank said the figures are provisional and remain "pending final reporting, accounting and reconciliation."