Currency Swap

RBI carries out currency swaps worth at least $10 bn to reduce liquidity

The Reserve Bank of India has conducted sell-buy dollar-rupee swaps with lenders over the past two weeks, taking rupees out of the financial system to contain risks from surplus liquidity

Rupee falls 11 paise to 95.84 against US dollar during early trade

The rupee stayed weak, sliding 11 paise to 95.84 against the US dollar in early trade on Thursday, as geopolitical uncertainties led to a sharp surge in crude oil prices and pushed US bond yields as well as the greenback higher. Forex traders said the inflow of foreign capital failed to support the local currency due to the selling pressure in the domestic equity market and a strengthening American currency. At the interbank foreign exchange market, the rupee opened at 95.84 against the American currency and stayed under pressure, registering a loss of 11 paise from its previous closing level. The rupee ended Wednesday's session 11 paise lower at 95.73 against the US dollar, a day after appreciating 16 paise. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, traded at 100.87, up 0.06 per cent. Brent crude futures, the global oil benchmark, were trading lower by 0.97 per cent but remained elevated at USD 102.08 per barrel compare

Rupee falls 25 paise to 95.33 against US dollar as oil prices top $100

The rupee depreciated 25 paise to 95.33 against the US dollar in early trade on Thursday as Brent crude price crossed the USD 100 dollar mark sharply increasing concerns over India's import bill. Forex traders said elevated crude oil prices and persistent dollar demand also weighed on investor sentiments. At the interbank foreign exchange market, the rupee opened at 95.15 against the US dollar, then lost ground to touch 95.33 against the American currency, registering a loss of 25 paise from its previous close. On Wednesday, the rupee slumped 34 paise to close at 95.08 against the American currency. "Rupee's move beyond the psychologically important 95 level also triggered some additional dollar demand and stop-loss activity. However, the decline was contained by RBI intervention," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was

Rupee falls 13 paise to 95.56 against US dollar on oil price rise, Fed bets

The rupee fell 13 paise to trade at 95.56 per US dollar on Monday morning pressured by rising crude oil prices and geopolitical strain. Forex traders said market participants have raised the probability of a September Fed rate hike, pushing US Treasury yields higher and triggering a broad dollar rally, denting investor sentiments further. At the interbank foreign exchange market the rupee opened at 95.56, registering a fall of 13 paise from its previous close. On Friday, the rupee rose marginally by 2 paise to settle at 95.43 against the US dollar. The rupee opened lower as the dollar index was at 99.62 level, while most other assets fell from their levels on Friday, said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. The rupee is expected to be in the range of 95.25 to 95.75 with exporters to sell near 95.60 levels and importers to buy all dips that they get with no directional movement being seen in the currencies, Bhansali ...

SBI eyes $10 bn from NRIs, foreign investors as RBI swap window nears end

As RBI's concessional swap window draws to a close this month end, State Bank of India (SBI) Chairman C S Setty has expressed confidence that the bank would garner about USD 10 billion from non-resident Indians and foreign investors. "In aggregate, we must be reaching the USD 10 billion mark, predominantly coming from the deposit side. But there is visibility of ECBs. ECB, of course, will have a longer period available to us, but by August 31, we should have mobilised around USD 9-10 billion on a consolidated basis," he told PTI in an interview. Earlier this month, the Reserve Bank of India advanced the closure of the Foreign Currency Non-Resident Bank (FCNR-B) deposits swap window by a month to August 31 as against the earlier cut-off date of September 30. However, the special US Dollar-Rupee forex swap window to give cheap currency hedging support to public sector undertakings (PSUs) raising External Commercial Borrowings (ECBs) is available till December 31, 2026. Talking about

RBI's special forex swap window outpaces 2013 inflows in only weeks

FCNR(B) deposits contributed $36.7 billion as banks raised nearly $41 billion under the RBI's concessional swap facility in less than two months, exceeding the 2013 mobilisation

Forex agents' industry body seeks Fema clarity on forex correspondent model

Money changers say ambiguity over the principal-agent framework, liability and compliance could delay the rollout of the new forex correspondent category

India approves ₹3,000 crore withdrawal to Maldives under Saarc swap

The earlier $400 million withdrawal, availed by Maldives under this framework in October 2024, matured on Thursday, the Indian High Commission said

RBI taps over $2 bn FX swaps to ease liquidity amid rupee pressure: Bankers

Spot intervention ​drains rupee liquidity, an effect the RBI can counter through dollar/rupee buy-sell FX swaps, in which the first leg is settled at the spot date and the second at a future date

Rupee ends flat, caught between softer dollar and corporate hedging

The rupee closed at 90.1525 per dollar, little changed from 90.1625 in the previous session

Rupee's relentless slide fuelling talk of RBI intervention, say bankers

Dominance of flows has dulled the rupee's sensitivity to daily swings in its Asian peers, allowing the downside momentum to build and raising expectations of depreciation and speculative activity

Rupee slides 9 p to record low of 90.87 against US dollar in early trade

The rupee plunged 9 paise to a record low of 90.87 against the US dollar in early trade on Tuesday, weighed down by sustained FII outflows and no breakthrough in the India-US trade deal. However, a weaker greenback and a decline in global crude oil prices capped further losses in the domestic unit, according to forex traders. At the interbank foreign exchange, the rupee opened at its all-time low of 90.87 against the US dollar, down 9 paise from its previous close, and traded in a narrow range of 90.77- 90.87 in early trade. The rupee on Monday settled at a new all-time low of 90.78 against the US dollar, registering a loss of 29 paise over its previous close, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows. "The US-India trade deal still seems to be off by a distance with the Commerce Secretary saying the first phase will be signed before the end of the year and news that we are closest to the deal being signed. The uncertainty has clou

US injects $20 bn to stabilise Argentina's economy, Treasury buys pesos

President Donald Trump and Bessent are making a bet on a nation that's defaulted and devalued repeatedly over the past several decades

Rupee skids close to record low as Trump threatens more tariffs

Indian Rupee today: The domestic currency opened 16 paise lower at 87.82 against the dollar on Tuesday, according to Bloomberg

Rupee slips as Trump sticks to tariff deadline; opens lower at 85.59/$

Indian Rupee today: The domestic currency opened 6 paise lower at 85.59 against the dollar, according to Bloomberg

Indian Rupee opens 8 paise higher at 85.44/$ as oil, dollar retreat

The domestic currency opened 8 paise higher at 85.44 after ending at 85.52 against the greenback on Friday

India and Japan renew $75 billion bilateral currency swap agreement

India and Japan have renewed the USD 75 billion bilateral currencies swap agreement, the Reserve Bank said in a statement on Friday. The Bilateral Swap Arrangement (BSA) is a two-way arrangement where both authorities can swap their local currencies in exchange for the US dollar. The Bank of Japan, acting as agent for the Minister of Finance of Japan, and the Reserve Bank of India signed the Second Amendment and Restatement Agreement of the BSA, the central bank said. The renewed BSA is effective Friday (February 28, 2025). The size of the BSA remains unchanged -- up to 75 billion US dollars, the RBI said. It further said that Japan and India believe that the BSA, which aims to strengthen and complement other financial safety nets, will further deepen financial cooperation between the two countries and contribute to regional and global financial stability.

India, Maldives ink pact for cross-border transactions in local currencies

The MoU was signed by Shaktikanta Das, governor, RBI, and Ahmed Munawar, governor, Maldives Monetary Authority

RBI, Maldives monetary authority sign $400 million currency swap agreement

This arrangement will remain in effect until June 18, 2027

RBI revises framework for currency swap arrangements with Saarc countries

Under the framework, the RBI will enter into bilateral swap agreements with SAARC central banks that wish to utilise the swap facility