The Reserve Bank will be conducting a USD/INR Buy/Sell swap auction of USD 5 billion for a tenor of 6 months on January 31, 2025, 10.30 AM to 11.30 AM. The market participants would be required to place their bids in terms of the premium that they are willing to pay to the Reserve Bank for the tenor of the swap, expressed in paisa terms up to two decimal places. The auction cut-off would be based on the premium. The auction will be a multiple-price based auction, i.e., successful bids will get accepted at their respective quoted premium.
RBI reserves the right to:
- Decide on the quantum of US Dollar amount to be accepted in the swap auction.
- Accept offers for less than the aggregate notified US Dollar amount.
- Accept marginally higher than the notified US Dollar amount due to rounding-off effects.
- Accept or reject any or all the offers either wholly or partially without assigning any reason.