RBI concessional swap facility attracts USD 72.84 bn forex inflows

The Reserve Bank on Saturday said its concessional swap facility, introduced to encourage foreign currency inflows, has attracted USD 72.848 billion till August 21. Of the total inflows, the Foreign Currency Non-Resident (Bank) or FCNR (B) deposits accounted for USD 65.397 billion, while Overseas Foreign Currency Borrowings (OFCBs) contributed USD 4.86 billion and External Commercial Borrowings (ECBs) amounted to USD 2.591 billion. Last week, the Reserve Bank advanced the closure of the FCNR(B) swap window by a month to August 31. Earlier, the cut-off date was September 30.

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