The Indian central bank likely intervened in the foreign exchange market on Wednesday to bolster the rupee, as maturing non-deliverable forward contracts created downward pressure. The Reserve Bank of India also reportedly utilized dollar-rupee buy/sell swaps for longer maturities, with state-run banks executing these trades on its behalf.
The Indian central bank likely intervened in the foreign exchange market on Wednesday to bolster the rupee, as maturing non-deliverable forward contracts created downward pressure. The Reserve Bank of India also reportedly utilized dollar-rupee buy/sell swaps for longer maturities, with state-run banks executing these trades on its behalf.
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