# India central bank’s $10 billion FX swap oversubscribed, cut-off at 5.86 rupees

> The Reserve Bank of India's $10 billion three-year dollar/rupee buy-sell swap auction was oversubscribed about two times, with a cutoff premium of 5.86 rupees. The central bank will inject about $10.04 billion equivalent of rupees into the banking system to ease a liquidity crunch. The liquidity deficit had been about 2 trillion rupees.

- Date: 2025-03-24 · published 2025-03-24T12:00:00.000Z
- Category: policy · region India · magnitude low
- Page: https://feedsoft.ai/events/25884-india-central-bank-s-10-billion-fx-swap-oversubscribed-cut-off-at-5-86-rupees
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Easing banking-system liquidity supports credit for Indian trade and processing, but the swap does not change the currency's direction much. Its effect on dollar-priced Indian agricultural exports is limited.

## Sources

- theprint.in: https://theprint.in/india/india-central-banks-10-billion-fx-swap-oversubscribed-cut-off-at-5-86-rupees/2562570/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.