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RBI Governor Shaktikanta Das Says New Liquidity Tool Well Received

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.

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RBI Governor Shaktikanta Das Says New Liquidity Tool Well Received

Senior RBI officials met market participants on Monday for feedback on the new measure


Mumbai: 

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.

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