These circumstances led to unbiased selling in emerging markets as investors sought safer assets with higher yields, further exacerbated by the strengthening of the US Dollar. The collective occurrence of these events elevated the geoeconomic risk landscape to structurally higher levels
RBI does dollar/rupee swap for $5 billion, injects liquidity
The Reserve Bank of India (RBI) conducted a dollar-rupee buy/sell swap for $5 billion on Friday, with the transaction to be reversed on August 4.