MUMBAI, Nov 20 (Reuters) - The Reserve Bank of India received a total of $22.7 billion through the two concessional forex swap windows as of Wednesday, it said in a release.
On Sept. 4, the central bank said it would provide banks a fixed forex swap rate lower than the market rate for bringing in dollar funds through the overseas non-resident Indian deposits and Tier-I borrowing.
The measure was taken to bolster the central bank's FX reserves which will give the RBI greater firepower to defend any sharp weakness in the exchange rate.
(Reporting by Archana Narayanan; Editing by Subhranshu Sahu) Keywords: INDIA CBANK/SWAP
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