RBI’s $5b swap auction to see strong demand

The Reserve Bank of India‘s (RBI) $5 billion buy-sell swap auction on Friday is anticipated to draw strong interest from lenders and corporate treasuries, six bankers told Reuters on Thursday.

The central bank will be conducting a 6-month dollar/rupee buy-sell swap as part of its efforts to inject liquidity of around 1.5 trillion rupees ($17.33 billion) into the banking system.

The RBI’s actions to support the rupee from reaching record lows have resulted in increased dollar liquidity in the banking system.

Attribution: Reuters

Subediting: Y.Yasser

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