RBI to inject liquidity through long-term Buy or Sell Swap auction
The Reserve Bank will be conducting a USD/INR Buy/Sell swap auction of USD 5 billion for a tenor of thirty-six months. The auction date will be 16 December, 2025.
New Delhi: The Reserve Bank will be conducting a USD/INR Buy/Sell swap auction of USD 5 billion for a tenor of thirty-six months. The auction date will be 16 December, 2025.
The market participants would be required to place their bids in terms of the premium that they are willing to pay to the Reserve Bank for the tenor of the swap, expressed in paisa terms up to two decimal places. The auction cut-off would be based on the premium. The auction would be a multiple-price based auction, i.e., successful bids will get accepted at their respective quoted premium.
The Authorized Dealers Category–I (AD Category-I) banks will be the eligible entities to participate in the auction. The swap is in the nature of a simple buy/sell foreign exchange swap from the Reserve Bank side. A bank shall sell US dollars to the Reserve Bank and simultaneously agree to buy the same amount of US dollars at the end of the swap period.
The eligible participants should submit their bids through (email) only on their letterhead (signed and scanned) in the prescribed form along with the excel sheet provided therein within the auction window to Financial Markets Operations Department (Ph: 022-22634924/22634925/22634893).
The prescribed form can be obtained from RBI website (https://rbi.org.in/Scripts/BS_ViewForms.aspx). No Requests for extension of auction window will be entertained.