Document Title: Foreign Exchange Turnover Data: September 28 – October 1, 2026
Issuing Authority: Reserve Bank of India
Reference: Press Release 2026-2027/1448
Date: 5 November 2026
External Sector and Currency
The Reserve Bank of India published provisional daily turnover data for the foreign exchange market covering the period 28 September to 1 October 2026. The data are presented in USD millions and differentiate between merchant and inter‑bank segments as well as transaction types – spot, forward, cancellation of forwards, and swaps.
In the merchant segment, spot purchases of foreign currency against the Indian rupee (FCY/INR) ranged from $6.0 bn on 1 Oct to $8.9 bn on 28 Sep. Forward purchases varied between $2.3 bn and $5.4 bn, while cancellations of forward contracts were reported between $1.8 bn and $5.9 bn. Corresponding merchant sales of FCY/INR spot were between $6.0 bn and $8.9 bn, with forward sales from $4.4 bn to $9.1 bn and cancellations from $1.3 bn to $3.3 bn.
The inter‑bank segment showed higher volumes. Spot FCY/INR turnover rose from $19.9 bn on 28 Sep to a peak of $26.5 bn on 1 Oct. Swap transactions in the same segment increased from $35.5 bn to $51.9 bn over the four days, while forward inter‑bank FCY/INR volumes moved between $1.7 bn and $2.1 bn. Inter‑bank FCY/FCY spot turnover was relatively stable around $9.9 bn to $11.6 bn, with swaps around $4.4 bn to $5.9 bn and forwards between $430 mn and $760 mn.
Capital Markets and Flows
The released figures illustrate robust activity in the Indian foreign exchange market, with both merchant and inter‑bank participants engaging in sizable spot, forward, and swap transactions. The provisional nature of the data is noted, and the RBI indicates that inter‑bank turnover figures are based on reports from both counterparties.
Overall, the four‑day snapshot reflects a high‑volume FX environment, with daily aggregate turnover (combining merchant purchases, sales and inter‑bank activity) consistently exceeding $40 bn across the observed period.