empty
 
 

2020.03.1211:39:00UTC+00India's Central Bank Unveils USD/INR Sell Buy Swaps

India's central bank said it will undertake US dollar sell/buy swaps to provide liquidity in the foreign exchange market and stands ready to take all measures required to mitigate the risks posed by the spread of coronavirus.

The Reserve Bank of India decided to undertake six-month US Dollar sell/buy swaps, the bank said in a statement on Thursday. The swaps will be conducted through the auction route in multiple tranches.

Due to risk aversion caused by the spread of the covid-19 infections, all asset classes see high volatility, with emerging market currencies experiencing downside pressures.

"The Reserve Bank of India is closely and continuously monitoring the rapidly evolving global situation and spillovers," the bank said.

"It stands ready to take all necessary measures to ensure that the effects of the COVID-19 pandemic on the Indian economy are mitigated, and financial markets and institutions in India continue to function normally," RBI added.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback