Thus, it was communicated that the Reserve Bank was keeping in touch with major settlement banks and the stock exchanges to ensure that payment obligations on the exchanges were met and gave assurance of selling dollars through agent banks in order to augment supply or intervene directly to meet any demand - supply imbalances.
Subsequent to the flashing of the press release, the market witnessed a quick recovery and, in fact, no Reserve Bank liquidity or forex facilities announced had to be used.