New Delhi: The Reserve Bank has made a big announcement to make up for the damage caused by the corona virus to the market. RBI will help the market by $ 2 billion (Rs 14000 crore). He will invest this amount in the market through the dollar-rupee swipe window. The stock market is making a record of continuous decline. Today the Sensex slipped more than 2900 points to close, which is the biggest drop in a day.
The circular issued by the Reserve Bank stated that the market is in dire need of the dollar. So he will implement the swipe program for six months. It starts on 16 March 2020. The Reserve Bank currently has very large dollar reserves. On 6 March, the central bank had reserves of $ 487.24 billion. In such a situation, he is fully capable of helping the market. He is also eyeing a sharp fall in the rupee. Today, the rupee has reached a 17-month low against the dollar.
