RBI to repeat forex swap after high demand for first operation
Second round of long-term liquidity will be on offer in late April
The Reserve Bank of India is to repeat its foreign exchange swap operation, after its first round in March attracted strong demand.
The RBI said on April 1 it would conduct another auction on the same terms as the previous round. Banks will be able to bid on April 25 for rupee liquidity at a tenor of three years, in exchange for US dollars. The RBI says it is willing to buy up to $5 billion, in line with the earlier auction.
Banks interested in obtaining the “durable liquidity” must submit
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