India draws $136.38 billion in forex inflows, boosting reserves

Mumbai (Maharashtra) [India], September 2 (ANI): Foreign exchange inflows under the Reserve Bank of India's special USD-INR swap facility reached USD 136.38 billion as of August 31, with Foreign Currency Non-Resident (Bank), or FCNR(B), deposits accounting for the bulk of the inflows, according to an RBI press release issued on Wednesday.

The provisional data showed that FCNR(B) deposits brought in USD 127.23 billion, while Overseas Foreign Currency Borrowings (OFCBs) contributed USD 5.26 billion and External Commercial Borrowings (ECBs) added USD 3.89 billion.

The central bank had introduced the special swap facility in June this year to cover inflows through FCNR(B) deposits, ECBs and OFCBs.