RBI to close FCNR swap facility early after $52 billion inflow
The RBI will close its FCNR swap facility on 31 Aug 2026, a month early, after mobilizing $52.3 billion in deposits. This move reflects confidence in foreign exchange reserves and may affect banking sector liquidity.
pre-market1 source ↓written by the desknot a recommendation
- FCNR deposits
- 31 Aug 2026
- in FCNR(B deposits
- $52.3 billion
The Reserve Bank of India (RBI) will close its special forex swap facility for Foreign Currency Non-Resident (FCNR) deposits on 31 Aug 2026, a month earlier than planned. This initiative, launched in June 2026, successfully mobilized $52.3 billion in FCNR(B) deposits, stabilizing the Indian rupee against market volatility.
The early closure reflects RBI's confidence in the current foreign exchange reserves and may impact liquidity in the banking sector as it adjusts to the absence of this facility.
Not investment advice. For informational purposes only.