RBI Interventions Boost Rupee, but GBP/INR Remains Under Pressure

The Reserve Bank of India (RBI) has intensified its interventions to support the Indian rupee, resulting in a record $729.33 billion foreign exchange reserve.

This significant increase in reserves was largely due to inflows from major private banks and the RBI's special USD-INR forex swap facility introduced in June 2026.

The introduction of this facility has attracted substantial foreign currency inflows, bolstering rupee liquidity. The RBI's aggressive intervention in both onshore and offshore markets has contributed to a stable rupee amid these inflows.

GBP/INR is trading at ₹127.549 after slipping modestly during the day, marking a move below its key short- and medium-term moving averages but staying above longer-term support levels.