They anticipate a sharper fall in interest rates of these two currencies instead of the dollar.
While some are converting their rupee debt into the euro or yen, others are converting their dollar debt. With the easing of rates by the European Central Bank, the borrowing cost is expected to be reduced by 150-200 basis points over a few months, said bankers.
Cross-currency swaps are derivative structures that allow companies to convert loan principal, interest repayments, or both, from one currency to another, helping manage interest rates and forex risk.
"People are moving to the yen as its rate of interest is closer to zero. Also, the pricing of loans is better," said a head of treasury at a state-owned bank.
Denne historien er fra December 18, 2024-utgaven av Financial Express Kolkata.
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Denne historien er fra December 18, 2024-utgaven av Financial Express Kolkata.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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