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Banks Push RBI for FX Swap Amid Liquidity Crunch
Mint Chennai
|January 03, 2025
Such operations could effectively inject rupee liquidity into the financial markets
Some big lenders in India have asked the central bank to inject liquidity using foreign-exchange swaps as short-term currency financing costs surged to a four-year high, according to people familiar with the matter.
In recent informal interactions, some lenders asked the Reserve Bank of India to consider using FX swaps, where the parties simultaneously agree to exchange currencies in the spot market and reverse the transaction at a future date, the people said. Such operations could effectively inject rupee liquidity into the financial markets.
This story is from the January 03, 2025 edition of Mint Chennai.
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