RBI Conducts $2 Billion FX Swaps as Rupee Hits Record Low
The Reserve Bank of India executed over $2 billion in FX swaps to manage liquidity as the rupee fell to a record low of 91.7425 against the dollar.
Insights:
The Reserve Bank of India (RBI) has undertaken a significant intervention in the foreign exchange market by executing over $2 billion in foreign exchange swaps on January 21-22, 2026. This move aims to address a liquidity squeeze in the Indian banking system caused by the central bank's spot sales of the rupee, which has recently plummeted to an all-time low of 91.7425 against the US Dollar .
