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The RBI said it bought the targeted $5.02 billion through a three-year dollar-rupee swap, injecting Rs 34,561 crore into the banking system. The central bank received $16.31 billion in bids and set a cut-off of 776 paise.
The operation adds to India's FX reserves and eases banking liquidity before the new fiscal year. It could also absorb large dollar inflows that might otherwise push the rupee sharply higher.
business-standard.comPress Trust of IndiaMar 26, 2019Not 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.
