{
  "id": 1448299,
  "title": "RBI cuts FX swap window short after NRI deposits cross $50 billion",
  "url": "https://urgent.news/2026/08/17/rbi-cuts-fx-swap-window-short-after-nri-deposits-cross-50-billion",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-17T07:42:08.000Z",
  "source": {
    "name": "The Economic Times - Economy",
    "slug": "the-economic-times-economy",
    "url": "https://economictimes.indiatimes.com/news/economy/finance/rbi-cuts-fx-swap-window-short-after-nri-deposits-cross-50-billion/articleshow/133290355.cms"
  },
  "original_language": "en",
  "account": "Mumbai: The Reserve Bank of India (RBI) decided to prematurely end a zero-cost foreign exchange (FX) swap facility for banks after receiving unexpected deposits exceeding $50 billion from non-resident Indians (NRIs) over two months, according to wire material. RBI policymakers were concerned about the domestic liquidity effects and the cost of such fundraising, analysts suggested. The central bank shortened the window by a month, ending it earlier than planned. The overseas fundraising was part of several measures to support the weakening rupee, which had fallen to record lows in May. The measures helped boost foreign exchange reserves to over $700 billion, with overseas FX deposits potentially reaching $70 billion by the end of August. However, this could create challenges in managing rupee liquidity when the deposits mature in three to five years. Economists predict a potential BoP surplus of $53 billion instead of the earlier forecasted $60 billion.",
  "summary": "The Reserve Bank of India shortened its zero-cost FX swap facility for banks. This action followed substantial foreign deposit inflows from non-resident Indians. Policymakers also considered domestic liquidity effects and fundraising costs. The overseas fundraising supported the rupee, which had reached record lows earlier. These measures have bolstered foreign exchange reserves significantly.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}