This led the Bank to devise foreign currency swaps facilities tailor-made for the needs of the export-oriented sectors, to inject liquidity in the market, thereby avoiding the build-up of uncertainty in the system and hampering economic activity. 15.
With the introduction of the foreign currency swaps facility, activities in the foreign exchange market rapidly returned to normal and liquidity conditions remained comfortable throughout the year. The notable exception was the unwarranted volatility and nervousness observed in May 2010. Suspecting currency manipulation on transactions during the period 14 to 26 May 2010, we considered it vital to thoroughly investigate the matter.