India’s banking system attracted $136.38 billion in foreign currency inflows through the Reserve Bank of India’s special dollar-rupee swap facility by August 31, with foreign currency non-resident (FCNR(B)) deposits accounting for the overwhelming share.
Provisional data released by the RBI on Wednesday showed FCNR(B) deposits brought in $127.23 billion, while overseas foreign currency borrowings (OFCBs) contributed $5.26 billion and external commercial borrowings (ECBs) $3.89 billion. The figures are subject to final reporting, accounting and reconciliation.
