RBI likely used dollar deposit surge to cut record FX forward book, economists say
The Economic Times has reported a new India-focused economy development: “RBI likely used dollar deposit surge to cut record FX forward book, economists say.” The publisher's feed describes the story as follows: Reserve Bank of India likely used deposit inflows to reduce its forward book. This action helped the central bank manage its near-term dollar obligations effectively. Economists suggest this strategy offset short-dollar positions in the forward market. Inflows attracted over twenty bill
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