RBI conducts forex swap worth $10 billion to inject long-term liquidity

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RBI conducts forex swap worth $10 billion to inject long-term liquidity - Business Standard

Quick Summary:

The Reserve Bank on Friday conducted US dollar-rupee swap worth USD 10 billion for injecting long-term liquidity in the system, with the auction eliciting robust demand.

The Reserve Bank of India (RBI) said it received 244 bids during the auction and 161 of them were accepted for amount totalling USD 10.06 billion.

The swap was in the nature of a simple buy/sell foreign exchange swap from the Reserve Bank side.