RBI releases weekly foreign exchange trading data

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RBI foreign exchange data

Highlights

On 23 October 2026, merchant FCY/INR spot purchases were 11,621 million dollars and sales were 11,756 million dollars.
On 23 October 2026, inter-bank FCY/INR spot purchases were recorded at 25,576 million dollars and sales at 24,315 million dollars.
On 23 October 2026, inter-bank FCY/FCY spot purchases were 30,114 million dollars and sales were 31,139 million dollars; the figures are provisional.

This article was translated from the original. Read the original version by our correspondent here.

Transaction details for the week ended 23 October

According to the press release 2026-2027/1451 from the Reserve Bank of India, the central bank has released daily merchant and inter-bank transaction data for the foreign exchange market for the period from 19 October 2026 to 23 October 2026. All figures are in millions of U.S. dollars and have been published as provisional data.

The published table provides figures for spot, forward and forward cancellation transactions under FCY/INR and FCY/FCY. On 23 October 2026, merchant-segment FCY/INR spot purchases stood at 11,621, while sales were recorded at 11,756. On the same day, inter-bank-segment FCY/INR spot purchases stood at 25,576 and sales at 24,315.

Inter-bank FCY/FCY spot trading also remained high during the week. On 22 October 2026, purchases in this category stood at 30,076 and sales at 27,370, while on 23 October 2026, purchases were recorded at 30,114 and sales at 31,139.

Market activity and the usefulness of the data

This data is considered important for understanding patterns of activity by banks and customers in the foreign exchange market, particularly when the volume of transactions related to imports, exports, hedging and short-term liquidity management changes. Separate reporting for the merchant and inter-bank segments clarifies market depth and the nature of participation.

In its note, the RBI said that daily turnover in the inter-bank segment is based on figures reported by both counterparties involved in the transactions. This indicates that the published figures provide a broad picture of actual activity within the banking system, although they should be treated as provisional data.

In our previous report on Indian banks, we discussed the trend of ‘indirect evergreening’, in which some undercapitalized banks try to delay the recognition of bad loans and the pressure they create by routing funds through related parties. The article noted that such loans are relatively more prone to default and can increase risks to bank shares and broader financial stability, highlighting the need for targeted regulatory and supervisory monitoring.

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