RBI Announces Another $2 Billion USD/INR Sell Buy Swap

On a review of current financial market conditions and taking into consideration the requirement of US Dollars in the market, the RBI has decided to undertake another 6-month US Dollar sell/buy swap auction worth $2 Billion on March 23 to provide liquidity to the foreign exchange market. The auction will be multiple price based, i.e., successful bids will be accepted at their respective quoted premiums.

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