RBI Allows Flexible Dollar Swaps
The Reserve Bank of India granted banks increased flexibility to swap overseas dollar deposits outside their weekly window. The measure aims to help financial institutions manage a surge in liquidity before the deposit scheme deadline.
India's central bank granted lenders daily access to dollar-rupee swap facilities on Thursday, easing constraints ahead of an August 31 deposit deadline. The policy shift aims to absorb surplus foreign liquidity exceeding $100 million.
