💨 Abstract

The Reserve Bank of India conducted a US dollar-rupee swap auction worth $10 billion to inject long-term liquidity into the system, which received robust demand. The auction, for a tenor of 3 years, was oversubscribed 1.62 times, with 161 out of 244 bids accepted. The auction comes amidst the Indian rupee trading at 87.46

Courtesy: theprint.in

Summarized by Einstein Beta 🤖