# Fed gives RBI what it wants: dollar swap facility

> The US Federal Reserve gave the Reserve Bank of India and other central banks access to a dollar currency swap facility, effective April 6 for at least six months. The RBI had reportedly requested it because of pressure on the rupee.

- Date: 2020-03-31 · published 2020-03-31T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/54394-fed-gives-rbi-what-it-wants-dollar-swap-facility
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Easier access to dollar funding eases pressure on emerging-market currencies, which tends to support the rupee and weigh on the dollar index.

## Read by commodity

- DXY: bearish ▼
- USDINR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-11-23 | [Gold up on weaker dollar as investors wait on Fed rate path](https://feedsoft.ai/events/33078-gold-up-on-weaker-dollar-as-investors-wait-on-fed-rate-path.md) | -0.4% | -1.1% |
| DXY | 2021-07-28 | [Canadian dollar gains as Fed readies new money market facilities - The Globe and Mail](https://feedsoft.ai/events/46270-canadian-dollar-gains-as-fed-readies-new-money-market-facilities-the-globe-and.md) | -0.4% | +0.4% |
| DXY | 2022-12-01 | [Dollar down as Fed minutes, U.S. data weighs](https://feedsoft.ai/events/38841-dollar-down-as-fed-minutes-u-s-data-weighs.md) | -0.6% | -1.5% |
| DXY | 2021-05-11 | [Commodity currencies hold advantage as dollar waits for inflation and Fed \| Reuters](https://feedsoft.ai/events/47003-commodity-currencies-hold-advantage-as-dollar-waits-for-inflation-and-fed.md) | +0.3% | -0.1% |
| DXY | 2020-07-29 | [US dollar breaking down, gold and the $A breaking up – what does it mean for investors? - Invest Blue](https://feedsoft.ai/events/52393-us-dollar-breaking-down-gold-and-the-a-breaking-up-what-does-it-mean-for.md) | +0.4% | -0.4% |

## Sources

- livemint.com: https://www.livemint.com/news/india/fed-gives-all-central-banks-dollar-funding-facility-rbi-wants-it-11585667097370.html

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