RBI accepts $5.135 billion in USD/INR sell-buy swap auction
Under the sell-buy swap auction, a bank buys US dollars from the Reserve Bank and simultaneously agrees to sell the same amount of US dollars at the end of the swap period.
By PTI | Updated:
Agencies
Mumbai: The Reserve Bank of India has accepted USD 5.135 billion in USD/INR sell-buy swap auction conducted on Tuesday against the notified amount of USD 5 billion. Last month, the RBI had announced to undertake a USD/INR two-year sell/buy swap auction of USD 5 billion.
In today's auction, the total amount bid by participants was USD 13.565 billion, the RBI said in a release.
The central bank received 246 bids but accepted 86 bids in the auction, the release said. The bid to cover ratio was 2.71.
Under the sell-buy swap auction, a bank buys US dollars from the Reserve Bank and simultaneously agrees to sell the same amount of US dollars at the end of the swap period.
In today's auction, the total amount bid by participants was USD 13.565 billion, the RBI said in a release.
The central bank received 246 bids but accepted 86 bids in the auction, the release said. The bid to cover ratio was 2.71.
Under the sell-buy swap auction, a bank buys US dollars from the Reserve Bank and simultaneously agrees to sell the same amount of US dollars at the end of the swap period.
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