India’s central bank, the Reserve Bank of India (RBI), has used currency swaps to manage liquidity in the banking sector. The operation involves selling dollars for rupees and later repurchasing them, effectively removing excess rupee cash from banks temporarily. The RBI aims to control short-term money-market rates and align them with policy levels. This intervention could strengthen the U.S. dollar, which historically has an inverse relationship with gold prices. Prediction markets place low odds on gold reaching $15,000 by the end of December 2026, with only 1% YES pricing on Polymarket.
Source: Read the original article
