Rupee forwards decline after RBI's FX swap announcement
pre-market1 source ↓written by the desknot a recommendation
- for next month
- $10 billion USD/INR buy-sell swap
The Indian rupee forwards have retreated from multi-year highs following the Reserve Bank of India's announcement of a $10 billion USD/INR buy-sell swap for next month. This move aims to manage liquidity amid year-end constraints, providing traders with some reassurance. Meanwhile, the spot market remains stable with the rupee trading sideways.
Not investment advice. For informational purposes only.