- 💵 Best Week in Over Two Years: The Indian rupee posted its best week in more than two years, rising over 1%.
- 📈 Rupee Opens Higher: On March 24, the rupee opened 3 paise higher at 85.94 against the US dollar. It closed at 85.97 in the previous session.
- ⚖️ Traders on the Sidelines: Currency experts suggest traders remain on the sidelines ahead of the USD/INR Buy/Sell swap auction scheduled for today.
- 💰 RBI’s Buy/Sell Swap Auction: According to Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors, the RBI will conduct a $10 billion Buy/Sell Swap today, which will provide ₹86,000 crores of durable liquidity for three years.
- 📅 Quarter-End Dynamics: Bhansali also noted that with the month-end, quarter-end, and year-end approaching, there could be increased demand for the dollar-rupee pair as the RBI might square up its positions instead of rolling them over, as seen in January and February.
