# RBI buys USD 5 bn through forex swap auction

> The RBI said it bought the targeted $5.02 billion through a three-year dollar-rupee swap, injecting Rs 34,561 crore into the banking system. The central bank received $16.31 billion in bids and set a cut-off of 776 paise.

- Date: 2019-03-26 · published 2019-03-26T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/60388-rbi-buys-usd-5-bn-through-forex-swap-auction
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

The operation adds to India's FX reserves and eases banking liquidity before the new fiscal year. It could also absorb large dollar inflows that might otherwise push the rupee sharply higher.

## Read by commodity

- USDINR: neutral

## Sources

- business-standard.com: https://www.business-standard.com/article/pti-stories/rbi-buys-usd-5-bn-through-forex-swap-auction-119032601105_1.html

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