What happened: RBI reports $40.82 billion mobilisation via concessional forex swap
The Reserve Bank of India (RBI) reported that its concessional swap facility mobilised 40.82 billion US dollars up to July 31. RBI said market interest has been strong and that forex inflows have remained steady after the facility began on June 8.
Background and earlier position: June 5 RBI measures to support balance of payments
RBI said the concessional swap facility forms part of steps to support India’s balance of payments. RBI announced on June 5 a set of measures that included concessional swap windows for specified instruments and foreign inflow categories.
RBI identified inflow categories mentioned in the June 5 measures, including:
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