Jan 31, 05:00 AM

India Central Bank Injects $5.1 Billion Through First FX Swap in Five Years Amid Severe Cash Crunch

India's central bank has conducted its first foreign exchange swap auction in five years, injecting $5.1 billion into the financial system to alleviate a severe cash crunch. This move is seen as a response to the liquidity challenges faced by banks and importers. In addition, the Reserve Bank of India (RBI) had previously purchased $2.3 billion of bonds at an open-market auction, marking its first such auction in nearly four years. The liquidity infusion aims to stabilize the financial environment and support economic activity.

#India #Reserve Bank of India #RBI

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Sources

Reuters@Reuters
2 years ago
India cenbank infuses $5.1 billion worth of rupee liquidity via buy/sell FX swap https://t.co/otVRf52PJR https://t.co/sCp7tFZUDq
🇪🇺 🇲🇨🇨🇭Dan Popescu 🇫🇷🇮🇹🇷🇴@PopescuCo
2 years ago
India central bank infuses $5.1 billion worth of rupee liquidity via buy/sell forex swap https://t.co/oIejUpeKZd via @Reuters https://t.co/vAoF4FMBSR
Bloomberg Economics@economics
2 years ago
India’s central bank injects $5.10 billion through a foreign-exchange swap auction, using the tool for the first time in five years to ease a severe cash crunch plaguing the financial system https://t.co/a9gzRrOgTN

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India Central Bank Injects $5.1 Billion Through First FX Swap in Five Years Amid Severe Cash Crunch

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