As of early August 2026, Indian financial institutions had raised $10.8 billion through dollar bonds. If the current momentum holds, the year’s total could reach an unprecedented $43 billion. The Reserve Bank of India’s concessional foreign exchange swap facility has reduced hedging costs by as much as 1.5 percentage points, with total mobilization under related RBI measures reaching approximately $20.72 billion. Notable issuances include India Exim Bank with $1 billion in January, HDFC Bank with $750 million in June, and ICICI Bank with $1 billion in July.
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