RBI dollar-rupee swaps to drain liquidity
The RBI conducted sell-buy dollar-rupee swaps with lenders over two weeks, withdrawing rupees from the financial system. The swaps were worth at least $10 billion as banks held excess cash after measures to attract more than $140 billion in foreign capital.
Timeline
Thursday, 24 September
- RBI said to conduct at least $10 billion forex swaps to drain cash
RBI is said to plan at least $10 billion in forex swaps to drain cash
- RBI conducts $10 billion in dollar-rupee swaps to drain system liquidity
RBI conducted $10 billion in currency swaps to reduce financial system liquidity
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