RBI Relaxes Weekly Access Rule for the FCNR(B) Dollar-Rupee Swap Facility Above USD 100 Million

29 August 2026National

The Reserve Bank of India relaxed access norms for its dollar-rupee swap facility under Foreign Currency Non-Resident (Bank) — FCNR(B) deposits, allowing banks to undertake swaps above USD 100 million on any day instead of only in the designated weekly window. Smaller transactions stay on the weekly schedule. The change eases delays in transferring large foreign-currency inflows, cuts hedging costs and relieves overnight swap-market pressure, supporting rupee stability and forex reserves. The facility has drawn USD 72.85 billion in inflows, of which FCNR(B) deposits contributed USD 65.40 billion, followed by overseas borrowings at USD 4.86 billion and ECBs at USD 2.59 billion.

Static GK

RBI – Established 1 April 1935, nationalised in 1949, HQ Mumbai | FCNR(B) accounts are term deposits held by NRIs in freely convertible foreign currency | ECB stands for External Commercial Borrowings

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