Opinion | The ‘Das put’ and how risk capital works2 min read . Updated: 24 Mar 2019, 11:16 PM IST
- Sensex, Nifty and and the Rupee have risen sharply since RBI announced its $5 billion dollar-rupee swap. Has the move given some players a special advantage?
The Reserve Bank of India’s (RBI’s) unconventional liquidity management tool in the form of a dollar-rupee swap might quell some temporary storms and stabilize transitory unevenness, but leaves multiple questions and issues unanswered. While RBI governor Shaktikanta Das said that the response has been positive so far, the exact nature of the impact will only be known by April 2022, when the reverse leg of the swap unfolds.
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