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The Reserve Bank of India (RBI) is considering rolling over a $5 billion foreign exchange swap set to mature next week in order to prioritize liquidity management over bolstering forex reserves. Some investors believe that allowing the swap to mature could lead to an inflow of around ₹40,000 crore in the banking system, but others argue that the RBI should focus on battling inflation. The RBI's decision may also be influenced by its desire to augment reserves as it collects $5 billion back from banks.

While headline retail inflation fell more than expected to 5.02 percent in September, industrial growth jumped to a 14-month high of 10.3 percent in August, data released on October 12 showed

The Indian rupee's valuation against currencies of major trading partners has surged to a near two-year high on central bank intervention and elevated domestic inflation....

"Market intervention is to prevent excessive volatility and to see that there is orderly appreciation or orderly depreciation," RBI Governor Shaktikanta Das said on Friday.

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