INR/USD: India RBI Uses Currency Swaps to Reduce $115 Billion Cash Surplus

Bloomberg Markets Wednesday 09 September 2026, 09:30 UTC By Bhaskar Dutta and Subhadip Sircar 1 min read

Key Points

India’s central bank used currency swaps to drain cash from banks, according to people familiar with the matter, as excess funds in the financial system climbed to a record

INR/USD (ORG) India (LOCATION)

Originally published by Bloomberg Markets Read original →

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INR/USD: India RBI Uses Currency Swaps to Reduce $115 Billion Cash Surplus

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