In parallel, we purchased the foreign exchange from the market itself with a view to retaining a neutral position and preventing a build-up of supply pressures. Faced with unprecedented currency volatility, we began intervening in the forex market in mid-July 2010, after an unbroken spell of 85 weeks since November 2008 when prevailing conditions did not warrant intervention.
We ended the year with a net purchase of foreign currency of USD315.6 million. 18. Throughout 2010, we maintained the foreign currency swaps facility that we had introduced in December 2009 but its range was extended to include swaps of shorter periods from one to three months.