Currency Swaps

Prime Minister Narendra Modi on Monday underlined New Delhi's position as a "close friend" of the Maldives and emphasised his government's readiness to respond to medical and economic emergencies as part of its 'neighbourhood first' foreign policy.

The Reserve Bank of India (RBI) has extended its currency swap arrangement with SAARC countries until 2027, introducing a revised framework to address short-term foreign exchange liquidity needs and balance of payment crises.

Some bank branches ran out of cash and temporarily halted the exchange of withdrawn Rs 2000 currency notes as they awaited replenishment of supply from the currency chest on the second day of note swap on Wednesday.

The companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoiding the US dollar and cutting the risk of breaching Western sanctions against Moscow.

Russia still has about $300 billion of foreign currency held in offshore swaps -- enough to disrupt money markets if they are frozen by sanctions or moved suddenly to avoid them.

Swap rates are rising in India in a sign that traders expect the central bank to roll back monetary stimulus quicker than expected despite its reassurances.

Private lender ICICI Bank on Thursday announced that it has executed its first term loan and cross currency swap derivative transactions linked to Secured Overnight Financing Rate (SOFR).

Sri Lanka originally signed the swap deal available to SAARC countries in 2020 and repaid it in February 2021 after rolling it over once.

Sri Lankan President Gotabaya Rajapaksa has requested India to provide a special USD 1.1 billion currency swap facility to boost the country's draining foreign exchange reserves in view of the economic slowdown due to the coronavirus pandemic.

The rupee's one-month risk-reversal rate shows that the premium to protect against dollar strength in the options market surged to the highest since November 2013 on Thursday.

The Reserve Bank of India (RBI) set a premium of Rs 8.38 at the three-year buy-sell swap auction and accepted the entire planned $5 billion up on offer.

Advances in the domestic equity markets along with government assurance that India will get additional supplies from other major oil producers to make up for loss of Iranian oil boosted the currency.

The rupee recovered from the day's low to settle at 68.74 against the dollar on Tuesday, as the central bank's Monetary Policy Committee started its bi-monthly review meeting. That marked a gain of 40 paise or 0.58 per cent in the rupee against the greenback.

Officials of the two central banks agreed the deal, which involves the Indian rupee and the UAE dirham, said a statement by the Indian embassy.

China and Argentina signed a $9 billion currency swap deal to boost the crisis-stricken South American country's foreign currency reserves, its central bank announced Sunday.

Prime Minister Narendra Modi on Monday underlined New Delhi's position as a "close friend" of the Maldives and emphasised his government's readiness to respond to medical and economic emergencies as part of its 'neighbourhood first' foreign policy.

The Reserve Bank of India (RBI) has extended its currency swap arrangement with SAARC countries until 2027, introducing a revised framework to address short-term foreign exchange liquidity needs and balance of payment crises.

Some bank branches ran out of cash and temporarily halted the exchange of withdrawn Rs 2000 currency notes as they awaited replenishment of supply from the currency chest on the second day of note swap on Wednesday.

The companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoiding the US dollar and cutting the risk of breaching Western sanctions against Moscow.

Russia still has about $300 billion of foreign currency held in offshore swaps -- enough to disrupt money markets if they are frozen by sanctions or moved suddenly to avoid them.

Swap rates are rising in India in a sign that traders expect the central bank to roll back monetary stimulus quicker than expected despite its reassurances.

Private lender ICICI Bank on Thursday announced that it has executed its first term loan and cross currency swap derivative transactions linked to Secured Overnight Financing Rate (SOFR).

Sri Lanka originally signed the swap deal available to SAARC countries in 2020 and repaid it in February 2021 after rolling it over once.

Sri Lankan President Gotabaya Rajapaksa has requested India to provide a special USD 1.1 billion currency swap facility to boost the country's draining foreign exchange reserves in view of the economic slowdown due to the coronavirus pandemic.

The rupee's one-month risk-reversal rate shows that the premium to protect against dollar strength in the options market surged to the highest since November 2013 on Thursday.

The Reserve Bank of India (RBI) set a premium of Rs 8.38 at the three-year buy-sell swap auction and accepted the entire planned $5 billion up on offer.

Advances in the domestic equity markets along with government assurance that India will get additional supplies from other major oil producers to make up for loss of Iranian oil boosted the currency.

The rupee recovered from the day's low to settle at 68.74 against the dollar on Tuesday, as the central bank's Monetary Policy Committee started its bi-monthly review meeting. That marked a gain of 40 paise or 0.58 per cent in the rupee against the greenback.

Officials of the two central banks agreed the deal, which involves the Indian rupee and the UAE dirham, said a statement by the Indian embassy.

China and Argentina signed a $9 billion currency swap deal to boost the crisis-stricken South American country's foreign currency reserves, its central bank announced Sunday.