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Policy▲ Bullish for Indian equities
India's RBI FX swaps create opening for firms to tap dollar funding at lower cost
- India flags risks to economic outlook from climate, monetary pressures
- India’s net claims on non-residents rise to $220.3 billion in June
- India RBI's FX forward book tipped to shrink after touching $200 billion
- India’s External Debt as at the end of June 2026
- India central bank's FX blitz drains nearly $20 billion from surplus liquidity, bankers say
RBI liquidity management and dollar-rupee swaps
The RBI conducted $10 billion in dollar-rupee swaps on September 24 to drain liquidity, after reports said banks had received more than $140 billion from measures to attract foreign capital. A later report said overseas inflows had reached $133 billion, leaving banks flush with cash and overnight rates below the RBI’s 5.25% policy rate.
Thursday, 1 October
- India's RBI FX swaps create opening for firms to tap dollar funding at lower cost