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On Aug 25 the Indian rupee traded in a narrow band around the mid-95s per USD and was little changed. Traders reported the Reserve Bank of India likely intervened to curb weakness amid corporate/importer dollar demand and elevated oil prices. Reports cite trader accounts; there is no contemporaneous RBI press statement confirming intervention or amounts.
Prime Minister Narendra Modi marked the 10th anniversary of UPI and invited citizens to share their experiences. Government figures cited around the anniversary report large increases in UPI transaction volume and value since launch, state that UPI was developed by NPCI in 2016 with a pilot in April 2016 and a commonly cited public-rollout date of 25 August 2016, and give examples of expanded reach including ~703 banks live on UPI and UPI operational in 11 countries.
Stage-B corroborated sources report the Reserve Bank of India’s special USD–INR forex swap facility had drawn about USD 72.85 billion as of August 21, 2026, with FCNR(B) deposits contributing roughly USD 65.397 billion. The RBI has also run Variable Rate Reverse Repo (VRRR) auctions in late August 2026 to absorb surplus rupee liquidity.