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On March 8 the RBI sold $5.135 billion through a dollar-rupee swap auction, drawing $13.56 billion in bids, with the cut-off premium set at 656 paise. The operation drains rupee liquidity and is intended to ease inflation pressure and support the rupee, which had hit 77 per dollar.
The RBI's intervention may slow rupee depreciation and ease India's imported feed costs, though it does not change global supply or prices.
indianexpress.comGeorge MathewMar 9, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
