RBI launches dollar‑rupee swap facilities to lure long‑term foreign deposits and support the rupee
The RBI has opened two dollar‑rupee swap windows – one for fresh FCNR(B) deposits and another for eligible ECBs/OFCBs – allowing banks to swap dollars at par or at a 1.5% cost. Open until Oct 2026 (FCNR) and Dec 2026 (ECBs), the measures aim to draw $40‑$50 bn of inflows and bolster the rupee.