Insignia Consultants | India's RBI announces mega $10 billion FX swap to infuse rupee liquidity
India's RBI announces mega $10 billion FX swap to infuse rupee liquidity
22 hours ago
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MUMBAI, Feb 21 (Reuters) - The Reserve Bank of India will conduct a massive $10 billion three-year dollar/rupee swap auction next week to infuse durable rupee liquidity into the banking system, which has been reeling under large cash deficits, the central bank said on Friday.
The RBI will conduct the buy/sell swap on February 28, it said in a release. The first leg of the transaction would be settled on March 4 and could infuse around 870 billion rupees ($10 billion) into the banking system.
