Finance
DoggfatherRBI's Dollar-Rupee Swap Auction: Bids on Fire, Yo!
Yo, peep this! India’s central bank just dropped a smooth dollar/rupee swap auction, rollin’ in with $10.35 billion in bids. With 222 bids and 118 accepted, they set the cut-off at Rs 7.65, keepin’ that liquidity game tight and the rupee lookin’ fresh. It’s all part of the RBI’s money moves to keep things flowin’ right, fo’ shizzle.
few days ago | Anjali Kumari
Quick rundown
1.RBI's dollar/rupee swap auction saw bids double the notified amount.
2.The cut-off premium was set at Rs 7.65 amid strong dollar liquidity.
3.Rupee is expected to depreciate until the end of December.
4.The swap is part of broader liquidity measures including OMOs.
5.Liquidity is expected to tighten due to foreign exchange interventions.
