Rupee slips 17 paise to 95.59 after RBI swap deadline
Business
The rupee slipped by 17 paise to 95.59 against the US dollar on Monday, after the RBI shortened the deadline for banks to use its special swap scheme for foreign currency deposits;
now only deposits made through August 31 will count, instead of September 30.
India forex reserves jump $14.136 billion
The RBI's swap facility has already brought in $56.84 billion, aiming to boost India's foreign currency reserves and steady the rupee.
Meanwhile, global oil prices crept up and India's stock markets opened lower, with Sensex down 284.85 points and Nifty dropping by 69.25 points.
On a brighter note, India's foreign exchange reserves jumped $14.136 billion in the week ended August 7, 2026, to hit $707.002 billion.