Finance
Mr. BillionhairRBI's FX Swap Auction is a Massive Success: 2.5x Bids!
Folks, the RBI just pulled off a massive FX swap auction! We’re talking $25 billion in bids, folks! That’s 2.5 times the size! 118 bids accepted, premium cut-off at 7.48 rupees! They’re injecting rupee liquidity like it’s going out of style! Tremendous move! Believe me, this is how you make the rupee great again! Huge success, folks, just huge!
few days ago | Reuters
Quick rundown
1.RBI's FX swap auction saw bids 2.5 times the auction size.
2.The swap aims to inject over $23 billion in rupee liquidity.
3.RBI accepted 118 bids with a premium cut-off at 7.48 rupees.
4.India's banking liquidity hit its highest since December 5.
5.RBI's measures are crucial for boosting rate cut transmission.
