The Economic Times

Special swaps rake in $143.5 billion in forex inflows: FCNR(B) scheme leads with $133 billion

Banks mobilised $132.9 billion through FCNR(B) deposits under the RBIs special forex swap window, taking total inflows, including ECBs and OFCBs, to $143.5 billion by September 18. The inflows are more than five times those raised under a similar 2013 scheme, with banks raising a significant portion in the final 10 days. While the FCNR(B) facility continues to support dollar inflows, rising global bond yields may weigh on further overseas borrowing through ECBs and OFCBs, which remains available until December 31.