On December 16, 2025, the Reserve Bank conducted a USD/INR Buy/Sell swap auction for a notified amount of USD 5 billion, as announced in a press release dated December 08, 2025. The aggregate amount notified was USD 5.00 billion, with total bids from participants amounting to USD 10.35 billion. The total amount accepted was USD 5.07 billion, and the cut-off premium was 765.00 paisa.
The USD/INR Buy/Sell Swap auction received 222 bids, resulting in a bid-to-cover ratio of 2.07. The number of bids accepted was 118, with a weighted average premium of accepted bids at 777.57 paisa. The first leg settlement date is December 18, 2025, and the second leg settlement date is December 18, 2028.
For communications, contact Ajit Prasad, Deputy General Manager. The press release number is 2025-2026/1713. The Department of Communication is located at the Central Office, Shahid Bhagat Singh Marg, Fort, Mumbai - 400 001. The phone number is 022 - 2266 0502. The website is www.rbi.org.in and the email address is helpdoc@rbi.org.in.
Key Entities Referenced
USD/INR Buy/Sell Swap Auction: A mechanism used by the Reserve Bank to manage liquidity or foreign exchange reserves, allowing banks to exchange USD for INR with a pre-agreed future date for reversing the transaction.
Reserve Bank of India: The central bank of India, responsible for monetary policy and regulation of the banking system.
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व ब ैंक
RESERVE BANK OF INDIA
वेबसाइट : www.rbi.org.in/hindi संचार वर्भाग, केंद्रीय कायाालय, शहीद भगत ससिंह मागा, फोटा, म िंबई - 400 001
Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort,
ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502
December 16, 2025
Result of the USD/INR Buy/Sell Swap Auction, December 16, 2025
Today, the Reserve Bank conducted a USD/INR Buy/Sell swap auction for a notified
amount of USD 5 billion as announced vide press release dated December 08, 2025.
I. Summary Results
Aggregate amount notified (USD billion) 5.00
Total amount bid by participants (USD billion) 10.35
Total amount accepted (USD billion) 5.07
Cut-off premium (in paisa) 765.00
II. Other Details
USD/INR Buy/Sell Swap auction
No. of bids received 222
Bid to cover ratio 2.07
No. of bids accepted 118
Partial allotment as % of competitive bids at cut off premium -
Weighted Average Premium of accepted bids (in paisa) 777.57
First leg settlement date December 18, 2025
Second leg settlement date December 18, 2028
Ajit Prasad
Press Release: 2025-2026/1713 Deputy General Manager
(Communications)