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Current Affairs

RBI Announced US Dollar Sell/Buy Swap

Current context: The Reserve Bank of India has announced a six month US dollar sell/buy swap in a statement issued on 12th March 2020.
RBI Announced US Dollar Sell/Buy Swap
  • The US dollar sell/buy swap is announced by RBI observing the mismatch in the US dollar liquidity across the world.
  • Due to COVID 19 outbreak, a slump in international crude prices and a decline in bond yields in advanced economies, financial markets worldwide are facing intense selling pressures on extreme risk aversion.
  • The swaps will be conducted through the auction route in multiple tranches and the auction be multiple prices based.
  • The first swap worth $2 billion US dollars will be conducted on 16th March 2020.

Question: 

Q.1 The RBI has recently announced a __________ month US dollar sell/buy swap to provide liquidity to the foreign exchange market?
a. Two
b. Four
c. Six
d. Eight
RBI Announced US Dollar Sell/Buy Swap RBI Announced US Dollar Sell/Buy Swap Reviewed by Neha Verma on March 13, 2020 Rating: 5

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