INR: FX swaps for OMCs? – Nomura

Sandeep Kanihama FXStreet Contributor

Analysts at Nomura suggest that if the FX swaps for oil companies will be implemented, then it would have only a short-lived positive impact on USD/INR.

Key Quotes

“Indeed, it would represent a step-up in official actions against INR depreciation, but alone is likely insufficient to address concerns over India’s current account vulnerability, while global conditions remain challenging amid rising oil prices and higher US Treasury yields.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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