💨 Abstract

India's central bank, the Reserve Bank of India (RBI), is reportedly conducting buy/sell dollar-rupee swaps alongside selling spot dollars to strengthen the rupee. These swaps, mostly for February and January, help manage the impact of spot market interventions on rupee liquidity in the banking system. On Thursday, the RBI was likely selling dollars to support the rupee.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖