RBI Forex Turnover Report September 2026: Key Liquidity Trends

What data is included in the RBI forex turnover report?

The Reserve Bank of India released its foreign exchange turnover data covering the period from September 21, 2026, to September 25, 2026, on October 8, 2026. This report provides a detailed breakdown of daily merchant and inter-bank transactions. It covers spot, forward, and swap activities across both foreign currency-to-rupee and foreign currency-to-foreign currency pairs. If you are tracking market liquidity or currency volatility in the Indian market, this document serves as the primary record for that specific week. While the report lists these transactional categories, you will need to go to the official Reserve Bank of India portal to view the specific USD million values for each transaction type. This transparency allows market participants to gauge institutional activity against broader economic shifts.

How to interpret Indian currency market liquidity from RBI data?

Forex turnover data acts as a pulse check for the financial system. By analyzing the volume of merchant versus inter-bank trades, analysts can determine how much of the activity is driven by real-world business needs—like imports and exports—versus purely speculative inter-bank hedging. High inter-bank swap volume, for instance, often signals that banks are managing liquidity risks or adjusting their positions in response to interest rate expectations. But there is a downside to relying solely on this weekly snapshot. It provides a static look at the past, which may not capture the immediate sentiment driving currency markets today. To stay ahead, investors should compare these figures against previous weeks to identify emerging trends in trade volume. If you notice a sudden spike in forward cancellations, it might indicate that market participants are shifting their hedging strategies due to unforeseen volatility. Always look for the correlation between these transaction volumes and broader macroeconomic announcements.