Epic Research Update : RBI

The Reserve Bank of India will cut the ceiling on its swap windows for 3-5 year foreign currency non-resident deposits FCNR-(B) by 100 basis points from March 1, the central bank said on Friday.

The new rates will be LIBOR/Swap plus 300 basis points, down from LIBOR/Swap plus 400 bps earlier for maturities of three to five years, the central bank said.

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