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RBI dollar-rupee swaps push fx hedging costs to two-month lows
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RBI dollar-rupee swaps push fx hedging costs to two-month lows
Aggressive buy-sell dollar/rupee swap operations by the Reserve Bank of India over the past 10 days have pushed foreign exchange hedging costs to their lowest levels in two months, while contributing to a recovery in the rupee ahead of a closely watched monetary policy decision.One-year hedging costs have fallen sharply from a mid-May peak of 3.50% to 2.92%.During the same period, the rupee strengthened from a record low of 96.96 per US dollar t…
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