Question
What is the amount of the record forex swap auction that
RBI will conduct on February 28, 2025?Solution
The Reserve Bank of India (RBI) will conduct a $10 billion dollar/rupee buy/sell swap auction on February 28, 2025, marking its largest-ever swap auction. In this swap, RBI will buy dollars for immediate delivery and sell them for delivery after three years, reversing on March 6, 2028. This move is aimed at addressing liquidity tightness in the financial system.
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