RBI active in buy-sell USD/INR FX swaps across maturities, traders say
India's central bank conducted buy-sell USD/INR foreign-exchange swaps across multiple maturities on Wednesday, traders said, in a move seen aimed at managing liquidity.
By Reuters |
India's central bank conducted buy-sell USD/INR foreign-exchange swaps across multiple maturities on Wednesday, traders said, in a move seen aimed at managing liquidity.
The Reserve Bank of India conducted swap for spot over June, July, August and October, per banker and FX brokers.
The RBI's use of swaps comes at a time when the rupee has been under persistent pressure, prompting the central bank to intervene more frequently. Such intervention, which largely involves selling dollars, tends to drain rupee liquidity from the system.
The Reserve Bank of India conducted swap for spot over June, July, August and October, per banker and FX brokers.
The RBI's use of swaps comes at a time when the rupee has been under persistent pressure, prompting the central bank to intervene more frequently. Such intervention, which largely involves selling dollars, tends to drain rupee liquidity from the system.
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