Former RBI Deputy Governor Proposes Accessing US Fed Facility to Stabilize Rupee
Former Reserve Bank of India (RBI) Deputy Governor Michael Patra has publicly urged the central bank to consider accessing the United States Federal Reserve’s Foreign and International Monetary Authorities (FIMA) repo facility to bolster the Indian rupee. This proposal, made amidst increasing volatility in global currency markets, suggests that utilizing this specific liquidity window could…