📄 Source: Reserve Bank of India · Press Release prid 63131
Quick answerRBI released daily merchant and inter-bank FX turnover for June 22-25, 2026. Data shows spot, forward, cancellation of forwards, and swap transactions in USD millions. Use this to gauge market liquidity and hedging activity.
What changed
RBI published provisional FX turnover data for four days in late June 2026. The data covers merchant and inter-bank transactions in FCY/INR and FCY/FCY pairs, including spot, forward, cancellation of forwards, and swap legs.
What it means for you
Banks can assess daily FX market depth and client hedging patterns. Higher merchant forward volumes suggest increased corporate hedging. Inter-bank swap activity indicates liquidity management trends.
The rule, in the simplest words
RBI gives numbers for how much foreign money banks buy and sell each day.
The data is split into two groups: deals with customers (merchant) and deals between banks (inter-bank).
It shows spot (immediate exchange), forward (future date), cancellation of forwards, and swap (exchange now and later) trades.
All amounts are in US dollars, in millions.
These numbers are not final; they may change later.
How it plays out — a real example
Raj, a treasury head at a mid-sized bank, checks the June 24 merchant forward purchases of $6,114 million. He sees a spike from the previous day, indicating clients are locking in rates. He alerts his team to prepare for higher hedging demand.
What you must do
Review daily merchant spot and forward volumes to gauge client demand.
Monitor inter-bank swap turnover for liquidity signals.
Compare cancellation of forwards data to assess hedging churn.
Use provisional data for internal risk reports, noting it may be revised.
RBI's press release dated July 13, 2026, covering June 22-25, 2026.
Are these figures final?
No, the data is marked as provisional and may be revised.
What currencies are included?
Transactions in foreign currency/INR and foreign currency/foreign currency pairs.
Test yourself
Quick self-check built only from the facts already on this page — tap a question to reveal the answer.
Q1. In one line, what does this circular do?
RBI released daily merchant and inter-bank FX turnover for June 22-25, 2026. Data shows spot, forward, cancellation of forwards, and swap transactions in USD millions. Use this to gauge market liquidity and hedging activity.
Q3. What is the first thing you should do about it?
Review daily merchant spot and forward volumes to gauge client demand.
💬 Banker Discussion
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Review daily merchant spot and forward volumes to gauge client demand.
Monitor inter-bank swap turnover for liquidity signals.
Compare cancellation of forwards data to assess hedging churn.
Use provisional data for internal risk reports, noting it may be revised.
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template
Example: if you are a Compliance officer at a bank this circular applies to (Treasury desks, Risk management teams, Corporate relationship managers, FX settlement operations), your first concrete step on “FX Turnover Data: June 22-25, 2026” is: “Review daily merchant spot and forward volumes to gauge client demand.” (RBI issued this 22 Jun 2026).
Circular: https://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=63131 -- FX Turnover Data: June 22-25, 2026
Issued: 22 Jun 2026
Action required: Review daily merchant spot and forward volumes to gauge client demand.
Action required: Monitor inter-bank swap turnover for liquidity signals.
Action required: Compare cancellation of forwards data to assess hedging churn.
Action required: Use provisional data for internal risk reports, noting it may be revised.
Owner: ____________ Target date: ____________
Board/committee approval needed? Y / N
Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.
AI-drafted · AI fact-check pending · under the editorial review of our expert review panel · decoded & published by BankPulse · 13 Jul 2026, 17:10 IST
Official RBI source: https://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=63131 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert review panel. Independent platform, not affiliated with the Reserve Bank of India; never reproduces RBI text verbatim.
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