RBI sets 728 paise cut-off at 3-year dollar-rupee buy-sell swap auction
This story was originally published at 17:28 IST on 13 January 2026
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--RBI sets 728 paisa cutoff at 3-year dollar-rupee buy-sell swap auction
--RBI accepted bids worth $10 bln at dollar-rupee buy-sell swap auction
--CONTEXT: RBI held $10 bln, 3-yr FX buy-sell swap auction at 1030-1130 IST
--RBI received bids worth $29.94 bln at dollar-rupee buy-sell swap auction
--RBI accepted 42 bids at dollar-rupee buy-sell swap auction
--RBI received 348 bids at dollar-rupee buy-sell swap auction
--RBI says 731.12 paisa weighted avg premium for dollar-rupee buy-sell swap
MUMBAI – The Reserve Bank of India set a cut-off premium of 728.00 paise at the auction of its three-year $10 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 11 foreign exchange dealers saw the cut-off premium at 720.00 paise.
Of the 348 bids worth $29.94 billion received, the RBI accepted 42 bids worth $10 billion at the swap auction. The weighted average premium of accepted bids was 731.12 paise, the RBI said. 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.
The central bank auctioned buy-sell swaps worth $10 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 Friday and the swap will reverse on Jan. 16, 2029. End
US$1 = INR 90.19
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Amruta Kinjale
Filed by Vaishali Tyagi
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