RBI to conduct $5 billion rupee swap auction on May 26
after close1 source ↓written by the desknot a recommendation
- will conduct
- $5 billion dollar-rupee swap auction
- to enhance long-term
- 26 May 2023
- depreciated
- 6%
- 28 February
The Reserve Bank of India will conduct a $5 billion dollar-rupee swap auction on 26 May 2023 to enhance long-term liquidity in the banking system. This move aims to stabilize the rupee, which has depreciated by around 6% since 28 February. The auction is expected to improve rupee liquidity and reduce forward premiums in the market.
Not investment advice. For informational purposes only.