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The Reserve Bank of India may announce a dollar-rupee buy-sell swap auction of up to $10 billion later on Thursday, five foreign exchange dealers said. The central bank may conduct the auction for a period of three years, as has been the case in recent such liquidity operations, the dealers said.
The RBI has been active across the curve in the secondary today,” a dealer at a private sector bank said. “There is a strong sense in the market that he may do a $10 billion buy-sell swap soon, maybe announce it after market hours.
Dealers said the RBI aims to limit the surge in forward premiums wi

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