MUMBAI, India, Feb. 21 -- Reserve Bank of India issued the following press release:
In order to meet the durable liquidity needs of the system, the Reserve Bank has decided to inject Rupee liquidity for longer duration through long-term USD/INR Buy/Sell swap. Accordingly, the Reserve Bank will be conducting a USD/INR Buy/Sell swap auction of USD 10 billion for a tenor of 3 years.
The details of the auction are as under:
Swap Amount
(USD Billion) Auction date Auction Time Near Leg/Spot Date Far Leg Date 10 February 28, 2025 10.30 AM to 11.30 AM March 04, 2025 March 06, 2028
The market participants would be required to place their bids in terms of the premium that they are willing to pay to the Reserve Bank for the tenor of the swap, ex...