The special swap facility was introduced on June 8 to encourage inflows through FCNR(B) deposits, Overseas Foreign Currency Borrowings (OFCBs) and External Commercial Borrowings (ECBs).

As of August 13, total inflows through the three channels had reached $56.846 billion, according to RBI data.

FCNR(B) deposits made up the largest share, at $52.3 billion. OFCBs brought in $2.805 billion, while ECBs accounted for another $1.741 billion.

ECB and OFCB windows remain open

The RBI had initially allowed authorised dealer banks to carry out the dollar-rupee swaps against eligible inflows until October 16. The revised timeline brings forward only the deposit mobilisation deadline for FCNR(B) deposits.

Balaram brings more than two decades of experience in the media industry, combining sharp editorial judgment with a deep understanding of digital news dynamics. Since 2004, he has been a core member of the gulfnews.com digital team, playing a key role in shaping its identity. Passionate about current affairs, politics, cricket, and entertainment, Balaram thrives on stories that spark conversation. His strength lies in adapting to the fast-changing news landscape and curating compelling content that resonates with readers.