The Reserve Bank of India (RBI) reported RBI forex inflows of $56,846 million under its special USD-INR Forex Swap facility by August 13, 2026. FCNR(B) deposits accounted for $52,300 million, while Overseas Foreign Currency Borrowings (OFCBs) stood at $2,805 million and External Commercial Borrowings (ECBs) at $1,741 million.
RBI Forex Inflows and June Balance of Payments
In its August 14, 2026 release, the RBI said India’s June 2026 current account balance was a deficit of $6.2 billion, compared with a $1.2 billion surplus in June 2025. The merchandise trade deficit widened to $30.2 billion from $19.2 billion, with exports at $41.2 billion and imports at $71.4 billion. Net services stood at $17.9 billion, with exports of $36.4 billion and imports of $18.5 billion. Net transfers were $11.9 billion and net income was a deficit of $5.8 billion.
The net capital account stood at $9.1 billion in June 2026, compared with $1.6 billion a year earlier. Net FDI was $1.3 billion, net FPI was $2.5 billion, net ECBs were negative $0.5 billion, short-term credit was $1.6 billion and banking capital was $8.2 billion, including net NRI deposits of $1.4 billion. Other capital was negative $4.0 billion, taking the overall balance to $2.9 billion. For April-June 2026, the current account deficit was $3.1 billion and the overall balance was negative $8.1 billion.
Foreign exchange reserves stood at ₹67,32,093 crore, or $707,002 million, as on August 7, 2026. Reserves rose ₹119,945 crore, or $14,136 million, over the week. Foreign currency assets increased ₹82,740 crore, gold rose ₹35,821 crore, SDRs increased ₹356 crore and the reserve position in the IMF rose ₹1,028 crore. RBI forex inflows also formed part of the broader foreign exchange data released during the week.
RBI data showed M3 at ₹3,22,81,302 crore as on July 31, 2026, up ₹6,38,771 crore, or 2.0%, over the fortnight and ₹8,28,176 crore, or 2.6%, in 2026-27 so far. Year-on-year M3 increased ₹41,41,428 crore, or 14.7%. Bank credit stood at ₹2,20,78,095 crore, with 2026-27 growth of 3.4% and year-on-year growth of 19.3%, while aggregate deposits stood at ₹2,69,41,367 crore, growing 2.7% in 2026-27 and 15.4% year-on-year.
The RBI said the RBI forex inflows facility for FCNR(B) deposits will be available only for deposits mobilized until August 31, 2026, with swaps available with RBI until September 11, 2026. The scheme for ECBs and OFCBs will remain open until December 31, 2026. Liquidity data showed net absorption of ₹2,57,941 crore on August 3, ₹3,46,637 crore on August 4, ₹3,55,001 crore on August 5, ₹3,72,009 crore on August 6, ₹2,29,969 crore on August 7, ₹2,25,265 crore on August 8 and ₹2,24,196 crore on August 9.
