Indian banks propose FX sell/buy swaps to drain excess rupee liquidity
Indian lenders proposed using foreign exchange sell/buy swaps to gradually withdraw surplus rupee liquidity from the banking system, discussed at a meeting with the central bank on Thursday, sources told Reuters.
By Dharamraj DhutiaIndian lenders proposed using foreign exchange sell/buy swaps to gradually withdraw excess rupee liquidity from the banking system at a meeting with the central bank on Thursday, three sources familiar with the discussion told Reuters.Banking system liquidity surged to a record 9…