RBI will conduct a USD/INR buy‑sell swap auction of USD 5 billion for a three‑year tenor starting May 26 2026.
Eligible participants are Category‑I authorized dealer banks, with a minimum bid size of USD 10 million and multiples of USD 1 million.
Bids are submitted as swap premiums in paisa; the auction uses a multiple‑price mechanism with pro‑rata allotment at the cut‑off premium.
Auction results will be announced same day; swaps are non‑cancellable and exempt from ISDA requirements, providing liquidity to the market.