# Explained: What does RBI’s $5 billion dollar-rupee swap mean? | Explained News - The Indian Express

> 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.

- Date: 2022-03-09 · published 2022-03-09T12:00:00.000Z
- Category: policy · region India · magnitude medium
- Page: https://feedsoft.ai/events/42550-explained-what-does-rbi-s-5-billion-dollar-rupee-swap-mean-explained-news-the
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

The RBI's intervention may slow rupee depreciation and ease India's imported feed costs, though it does not change global supply or prices.

## Read by commodity

- USDINR: bearish ▼

## Sources

- indianexpress.com: https://indianexpress.com/article/explained/explained-what-does-rbis-5-bn-dollar-rupee-swap-mean-7808158/

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