RBI'S $5 Billion Surprise | Rupee-Dollar Swap
The Reserve Bank of India (RBI) sprang a surprise last week when it announced a $5 billion (around Rs 35,000 crore) rupee-dollar swap window for the first time, a move widely seen as helping lower interest rates as banks get flush with funds. The RBI will buy upto $5 billion, or a fourth of the foreign exchange banks hold, from the market via
