RBI’s Record $18.65 Billion Net Forex Purchase in July
Why in the news
RBI’s dollar buying in July 2026 hit a monthly record, helped by a special swap window.
Key facts
- Net purchase in July 2026: $18.65 billion, the highest monthly figure on record.
- The June 2026 purchase was just $561 million.
- The old record was $18.63 billion in June 2021.
| Period | RBI net forex purchase |
|---|---|
| June 2021 | $18.63 billion (earlier record) |
| June 2026 | $561 million |
| July 2026 | $18.65 billion (new record) |
Reason
- A concessional swap facility covering FCNR(B) deposits, external commercial borrowings and overseas foreign-currency borrowings.
- It drew $40.82 billion of inflows by July-end; banks sent the foreign currency back to the RBI through the swap window.
Exam angle
- Record month: July 2026 at $18.65 billion.
- Deposit type in the swap: FCNR(B).
- Previous record month: June 2021.