The Reserve Bank of India's new step to infuse rupees into the banking system through a dollar/rupee forward buy-sell swap auction window has been well received by the market, Governor Shaktikanta Das said on Tuesday.
"By and large I think it has been received quite well," Mr Das said on sidelines of a book launch event.
On whether the RBI would repeat such auctions going ahead, he said: "I can't say at the moment."
The RBI last week said it will conduct a first such auction of $5 billion for a tenure of three years on March 26, to mop up dollars and pump in rupees.
Senior RBI officials met market participants on Monday for feedback on the new measure.