Document title: Foreign Exchange Turnover Data: July 27‑31, 2026
Issuing authority: Reserve Bank of India
Reference number: Press Release: 2026-2027/873
Date: 12 August 2026
External Sector and Currency
The Reserve Bank of India published provisional data on daily merchant and inter‑bank foreign exchange transactions for the week of 27‑31 July 2026. All figures are expressed in USD millions. Merchant purchases in the FCY/INR spot market ranged from USD 5.78 bn to USD 9.71 bn per day, while inter‑bank spot purchases varied between USD 17.32 bn and USD 22.23 bn. Corresponding merchant spot sales were between USD 5.72 bn and USD 10.41 bn, and inter‑bank spot sales between USD 16.82 bn and USD 21.58 bn. Forward purchases and sales, as well as cancellations of forwards, were also reported across both merchant and inter‑bank segments, with the highest forward purchase volume observed on 28‑07‑2026 (USD 3.49 bn) and the largest forward cancellation on 29‑07‑2026 (USD 7.27 bn) for merchant transactions. Swap activity was substantial, with inter‑bank swap volumes ranging from USD 25.80 bn to USD 28.05 bn daily.
Capital Markets and Flows
Aggregating the weekly data, total spot purchases (merchant plus inter‑bank) summed to approximately USD 133.9 billion, while total spot sales amounted to about USD 131.9 billion, indicating a near‑balanced net position. Forward purchase volumes across the week reached a cumulative USD 23.0 billion, with forward sales totaling USD 22.5 billion. Cancellations of forward contracts amounted to USD 23.5 billion for merchant transactions and USD 2.2 billion for inter‑bank transactions. Swap transactions, a key liquidity instrument, consistently exceeded USD 25 billion each day, underscoring robust intra‑day currency market activity. The data, marked as provisional, reflects the intensity of foreign exchange trading activity in both the merchant and inter‑bank segments during the reported week.
Overall, the RBI’s weekly FX turnover figures illustrate high volume and liquidity in the Indian foreign exchange market, with spot and swap transactions dominating the flow and forward markets showing significant but comparatively lower activity. The balanced nature of spot purchases and sales suggests stable demand‑supply dynamics for foreign currency during the period.