March 12, 2020 / 10:50 AM / 3 months ago

BRIEF-India Cenbank Announces USD/INR Sell Buy Swaps To Provide Liquidity To Forex Market

March 12 (Reuters) - Reserve Bank of India:

* RBI ANNOUNCES USD/INR SELL BUY SWAPS

* SAYS TO UNDERTAKE 6-MONTH US DOLLAR SELL/BUY SWAPS TO PROVIDE LIQUIDITY TO THE FOREIGN EXCHANGE MARKET

* AMOUNT OF $2 BILLION WOULD BE OFFERED ON MARCH 16

* SAYS STANDS READY TO TAKE MEASURES TO ENSURE EFFECTS OF COVID-19 PANDEMIC ON INDIAN ECONOMY ARE MITIGATED

* SAYS LEVEL OF FOREX RESERVES AT $487.24 BILLION AS ON MARCH 6, 2020 REMAINS COMFORTABLE TO MEET ANY EXIGENCY

* SWAPS WILL BE CONDUCTED THROUGH THE AUCTION ROUTE IN MULTIPLE TRANCHES Source text: (bit.ly/38LQ3NW)

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