RBI conducts USD/INR sell-buy swaps for second straight day
The Reserve Bank of India conducted dollar-rupee sell-buy swaps for a second straight day on Thursday to drain rupee liquidity, four traders said. The swaps were for spot over September and October, pushing forward premiums sharply higher.
The Reserve Bank of India carried out dollar-rupee sell-buy swaps for a second consecutive day on Thursday to absorb rupee liquidity, according to four traders. The central bank executed the swaps for spot over September and October, the traders said, with one trader saying forward premiums moved sharply higher.