There is no better person to explain the impact on currency value and system liquidity on RBI intervention in foreign currency (fx) markets than Mr. P.Krishnamurthy who was at one point of time responsible for RBI market intervention. In a three part knowledge paper on the “Impact on Currency Value and System Liquidity on RBI Intervention in FX Markets”, Mr. Krishnamurthy explains how value of the Indian Rupee is affected by RBI intervention in spot and forward currency markets and also explains the liquidity impact of the intervention.
The knowledge paper is open to all paid subscribers. At the end of the three part series, which will be published this week, you will be able to relate to currency movements, RBI actions and domestic system liquidity. A must read knowledge paper.
Profile of Mr. P.Krishnamurthy
Mr.P.Krishnamurthy was Chief General Manager of RBI, retiring recently. A banker turned central banker he has worked with RBI for more than three decades. In his association with RBI he has worked in various capacities in different departments responsible for banking policy, supervision of banks and non- banking finance companies, forex reserve management, domestic exchange rate management and debt market operations. In his long career, most of his time has been spent in forex reserve management and exchange rate management as Chief Dealer of RBI and he later headed the Financial markets Dept. He was associated with several committees more specifically those responsible for introducing rupee options, interest rate futures and redefining LAF mechanism. He was the Chairman of the committee which evolved the OTC derivatives reporting frame work introduced in June 2012.
He was on deputation with Central bank of Oman as advisor on Reserve management .As consultant to IMF he was associated with assignments to bring about changes in exchange rate management practices in specified domains .
He is a postgraduate in science, MBA in Intl Banking and Finance from UK and alumni of Kellogg school of business, US and an Aldington fellow.
Currently he is engaged as an advisor.
