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<h1>Foreign exchange swap injects long-term rupee liquidity via multi-year buy/sell auction; robust demand caused oversubscription.</h1> The Reserve Bank conducted a foreign exchange buy/sell swap auction to inject durable rupee liquidity through a multi year USD/INR buy/sell swap; banks sold US dollars to the Reserve Bank and agreed to repurchase them at the end of the swap period, with settlements scheduled on specified future dates. The auction received robust demand, was oversubscribed, and a number of bids were accepted to effect the announced liquidity injection as part of the central bank's broader liquidity management measures.