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Foreign banks were forced by the Reserve Bank of India to unwind billions of dollars of currency swap trades after the central bank warned of a regulatory breach. The trades had used rupee deposits converted to dollars to buy foreign sovereign debt.
The unwinding of dollar-buying arbitrage affects rupee and dollar flows, a financial-market story with little direct effect on feed commodity supply or demand.
business-standard.comSuvashree Ghosh, Anto Antony, BloombergAug 11, 2021Not 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.
