India received $1.4 billion in forex flows from swap lines: Rajan

Reuters

MUMBAI (Reuters) - India's has so far received $1.4 billion in foreign flows so far from two foreign exchange swap lines that the RBI set up as part of its currency stabilising measures, the central bank governor said on Friday.

Raghuram Rajan also said the central bank does not have a specific move in mind for the repo rate going forward.

Rajan earlier raised the RBI's policy repo rate by 25 basis points (bps) to 7.50 percent, defying widespread forecasts that he would leave the rate on hold to bolster a sluggish economy, and as expected struck a hawkish tone.

(Reporting by Himank Sharma and Mumbai Bureau; Editing by Kim Coghill)

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