Former RBI Deputy Governor Proposes US Fed Swap 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 ongoing currency volatility, suggests that tapping into this liquidity window could provide the necessary…
