RBI releases foreign exchange turnover data for the September–October period

RBI releases foreign exchange turnover data for the September–October period
RBI's latest forex data

A new official breakdown of daily trading activity in India's foreign exchange market, covering merchant and inter-bank transactions, has been released. The Reserve Bank of India has published data in USD millions on merchant and inter-bank transactions for the period from 28 September 2026 to 1 October 2026.

Highlights

  • Inter-bank FCY/FCY spot purchases stood at $51,913 million on 1 October 2026, the highest single figure during the reporting period.
  • Inter-bank FCY/INR spot transactions on 1 October 2026 recorded purchases of $26,469 million and sales of $22,977 million, while merchant purchases were $6,021 million and sales were $7,605 million.
  • According to data released by the RBI, turnover in the inter-bank segment is far higher than in the merchant segment, underscoring the dominance of bank-to-bank trading.

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

Daily transaction data and scope

According to the Reserve Bank of India’s Reserve Bank of India press release 2026-2027/1448, the data show daily merchant and inter-bank transactions in the foreign exchange market between 28 September 2026 and 1 October 2026. They cover both purchases and sales of FCY/INR and FCY/FCY transactions, as well as spot, forward, forward cancellations, and swap deals.

According to the published table, inter-bank FCY/FCY spot purchases stood at $51,913 million on 1 October 2026, the highest single figure for the period. On the same day, inter-bank FCY/INR spot purchases were $26,469 million and sales were $22,977 million, while merchant FCY/INR spot purchases were $6,021 million and sales were $7,605 million.

On 30 September 2026, inter-bank FCY/FCY spot purchases were $43,713 million and sales were $42,999 million. On 29 September 2026, the figures were $43,311 million and $41,727 million, respectively, while on 28 September 2026 they stood at $36,393 million and $35,466 million.

Market activity and the importance of reporting

These figures indicate liquidity, transaction sizes, and patterns of activity between merchants and banks in the foreign exchange market. Inter-bank turnover was considerably larger than merchant turnover throughout the period, highlighting the prominent role of the bank-to-bank market.

The RBI noted that daily turnover in the inter-bank segment is based on figures reported by both counterparties. The central bank described the data as provisional, and it is used by market participants, analysts, and policy watchers to understand short-term foreign exchange activity.

For our previous report on the Nifty 50 decline and market capitalization figures on 12 October 2026, which summarized the selling pressure and investor caution at the end of the day. It also noted that, amid global trends and economic indicators, several corporate developments—including the listing of Vishal Nirmiti Limited—were in focus.

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