# India cenbank's $5 billion USD/INR swap expiry fuels dollar shortage concern

> The Reserve Bank of India sold $5 billion in dollar/rupee swaps to banks in April 2022, and the swap matures on October 23 when the central bank buys the dollars back. The maturity could pull dollars out of the banking system.

- Date: 2023-10-16 · published 2023-10-16T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/33908-india-cenbank-s-5-billion-usd-inr-swap-expiry-fuels-dollar-shortage-concern
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

A possible dollar shortage from the swap maturity can weaken the rupee and make dollar-denominated imports for Indian feed buyers more expensive.

## Read by commodity

- USDINR: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/india-cenbanks-5-billion-usdinr-swap-expiry-fuels-dollar-shortage-concern-2023-10-16/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.