RBI to conduct $5 billion rupee swap auction on May 26
pre-market1 source ↓written by the desknot a recommendation
- to enhance liquidity
- 26 May
- of the rupee
- 6% depreciation
- per dollar
- ₹96.83
The Reserve Bank will conduct a $5 billion dollar-rupee buy/sell swap auction on 26 May to enhance liquidity in the banking system and bolster foreign exchange reserves. This move follows a 6% depreciation of the rupee since late February, with the currency recently closing at ₹96.83 per dollar. The auction aims to stabilize the forward premium and improve rupee liquidity in the market.
Not investment advice. For informational purposes only.