RBI sets 765 paise cut-off at 3-year dollar-rupee buy-sell swap auction
This story was originally published at 16:24 IST on 16 December 2025
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--RBI says 777.57 paise weighted avg premium for dollar-rupee buy-sell swap
--RBI received 222 bids at dollar-rupee buy-sell swap auction
--RBI accepted 118 bids at dollar-rupee buy-sell swap auction
--RBI received bids worth $10.35 bln at dollar-rupee buy-sell swap auction
--CONTEXT: RBI held $5 bln, 3-yr FX buy-sell swap auction at 1030-1130 IST
--RBI accepted bids worth $5.07 bln at dollar-rupee buy-sell swap auction
--RBI sets 765 paisa cutoff at 3-year dollar-rupee buy-sell swap auction
NEW DELHI – The Reserve Bank of India set a cut-off premium of 765.00 paise at the auction of its three-year $5 billion dollar-rupee buy-sell swap Tuesday. Under the buy-sell swap, the RBI has bought dollars for immediate delivery, and will sell them for delivery after three years. The median of an Informist poll of 10 foreign exchange dealers saw the cut-off premium at 780.00 paise.
Of the 222 bids worth $10.35 billion received, the RBI accepted 118 bids worth $5.07 billion at the swap auction. The weighted average premium of accepted bids was 777.57 paise, the RBI said.
The central bank auctioned buy-sell swaps worth $5 billion using the multiple-price method. Competitive bids were submitted from 1030 IST to 1130 IST. The first leg of the settlement will take place on Thursday and the swap will reverse on Dec. 18, 2028.
Market participants had expected it to draw strong participation by large corporates and state-owned and private banks. Through the swap auction, the central bank aims to infuse durable liquidity into the banking system. End
US$1 = INR 91.03
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Pratiksha and Janwee Prajapati
Filed by Shubham Rana
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