RBI Announces $5 Billion Swap Auction to Bolster Banking Liquidity
The Reserve Bank of India (RBI) announced on Wednesday a USD 5 billion dollar-rupee swap auction scheduled for May 26, a strategic move designed to inject substantial long-term liquidity into the domestic banking system. This intervention comes as the Indian rupee faces persistent downward pressure, exacerbated by significant foreign investor outflows from equity markets amid…