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RBI Special Swap Facility Attracts $40.8 Billion in Foreign Inflows by July End

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India's Reserve Bank received $40.816 billion in foreign exchange inflows through its special swap facility by the end of July. This amount nearly doubled compared to the $20.718 billion recorded just two weeks earlier, reflecting strong uptake of the scheme. FCNR(B) deposits were the largest contributor, accounting for $36.725 billion of the total. Overseas foreign currency borrowings and external commercial borrowings also made notable contributions to the tally. The facility was introduced to bolster India's balance of payments and attract greater capital inflows from abroad.

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RBI Special Swap Facility Attracts $40.8 Billion in Foreign Inflows by July End · ShortSingh