Result of the 4-day Variable Rate Reverse Repo (VRRR) auction held on October 01, 2026

The Reserve Bank of India conducted a 4-day Variable Rate Reverse Repo (VRRR) auction on October 1, 2026. The notified amount was ₹2,00,000 crore, but the total amount of offers received was ₹1,68,055 crore, which was fully accepted. The cut-off rate and weighted average rate were both 5.24%.

In a separate development, the ringgit opened higher against a basket of major currencies on October 1, but slightly lower against the US dollar. According to Dr Mohd Afzanizam Abdul Rashid, chief economist at Bank Muamalat Malaysia Bhd, this was due to stronger-than-expected US economic data. The US final gross domestic product growth for the second quarter of 2026 was 2.2%, above the consensus estimate of 1.5%, and the ADP employment change rose to 90,000 in September.

The US Dollar Index initially fell but recovered, and markets have reassessed their stance towards a rate hike in October. Dr Mohd Afzanizam Abdul Rashid said the ringgit is expected to trade between RM4.08 and RM4.09.

Brief written by urgent.news from Reserve Bank of India, Malay Mail — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.