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FinanceIndian rupee gains 12 paise to close at 96.24 vs USD, boosted by RBI swap facility inflows
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The Indian rupee strengthened by 12 paise to close at 96.24 against the U.S. dollar on July 21, 2026, recovering from initial losses. The gain was driven by strong foreign exchange inflows attracted by the Reserve Bank of India's (RBI) concessional swap facility, which has drawn $20.72 billion since June 8. Of this, FCNR (B) deposits accounted for $17.406 billion, Overseas Foreign Currency Borrowings $1.97 billion, and External Commercial Borrowings $1.342 billion. The dollar index was slightly lower at 100.91, while Brent crude oil traded at $89.44 per barrel. Domestic equity markets declined, with the Sensex falling 238 points and the Nifty down 50.8 points. Foreign Institutional Investors sold equities worth ₹1,121.04 crore on the previous day. Traders noted ongoing pressure from U.S.-Iran tensions and potential West Asia oil supply risks.
Source report
Reserve Bank swap facility attracts $20.72 billion in forex inflows till July 17
Updated - July 21, 2026 06:03 pm IST Mumbai PTI
The rupee pared initial losses and settled higher by 12 paise at 96.24 (provisional) against the U.S. dollar on Tuesday (July 21, 2026), as traders assessed strong inflows related to the Reserve Bank’s initiatives to support foreign exchange liquidity amid global market uncertainties.
Forex traders noted that India attracted $20.72 billion in forex inflows under the swap facility since June, providing significant structural support to the country’s balance of payments position.
Trading range
At the interbank foreign exchange, the rupee opened at 96.41 against the U.S. dollar and traded in the range of 96.13 to 96.42 during the day. The domestic unit finally settled at 96.24 (provisional), higher by 12 paise from its previous close.
On Monday (July 20, 2026), the rupee fell 6 paise to 96.36 against the U.S. dollar.
Swap facility details
The Reserve Bank on Monday (July 20, 2026) said its concessional swap facility, introduced to encourage foreign currency inflows, has attracted $20.72 billion till July 17. The facility has seen avid interest and attracted steady forex inflows since June 8, 2026.
A strong mobilisation was witnessed through Foreign Currency Non-Resident (Bank) or FCNR (B) deposits. Of the total inflows:
- FCNR (B) deposits: $17.406 billion
- Overseas Foreign Currency Borrowings (OFCBs): $1.97 billion
- External Commercial Borrowings (ECBs): $1.342 billion
The central bank released these figures in a statement on Monday (July 20, 2026).
Global market indicators
- Dollar index: Trading lower by 0.03% at 100.91
- Brent crude: Trading 0.25% higher at $89.44 per barrel in futures trade
Traders said the USD/INR pair continues to remain under pressure as the dollar index touched 100.91 while oil prices were well bid at $89.44 per barrel. They added that the U.S.-Iran conflict and the Houthi-Saudi blockade could again risk West Asia oil supplies.
Domestic equity market
- Sensex: Declined 238.41 points to settle at 77,470.11
- Nifty: Dipped 50.80 points to 24,187.70
Foreign Institutional Investors offloaded equities worth ₹1,121.04 crore on a net basis on Monday (July 20, 2026), according to exchange data.
Published - July 21, 2026 04:41 pm IST
Source
The Hindu: Latest News today from India and the World, Breaking news, Top Headlines and Trending News Videos.Regional
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