diff --git a/Package.swift b/Package.swift
index ce9e5e1bed5..b9ce42b95e9 100644
--- a/Package.swift
+++ b/Package.swift
@@ -23,8 +23,8 @@ let package = Package(
   ],
 
   dependencies: [
-    .package(url: "https://github.com/firebase/abseil-cpp-SwiftPM.git", "0.20230802.0"..<"0.20230803.0"),
-    .package(url: "https://github.com/firebase/boringssl-SwiftPM.git", "0.9.0"..<"0.10.0"),
+    .package(url: "https://github.com/firebase/abseil-cpp-SwiftPM.git", "0.20240116.1"..<"0.20240117.0"),
+    .package(url: "https://github.com/firebase/boringssl-SwiftPM.git", "0.32.0"..<"0.33.0"),
   ],
 
   targets: [
diff --git a/gRPC-C++.podspec b/gRPC-C++.podspec
index 9114af3c0d9..046f9667500 100644
--- a/gRPC-C++.podspec
+++ b/gRPC-C++.podspec
@@ -225,7 +225,7 @@ Pod::Spec.new do |s|
     ss.dependency "#{s.name}/Privacy", version
     ss.dependency "#{s.name}/Interface", version
     ss.dependency 'gRPC-Core', version
-    abseil_version = '1.20240116.1'
+    abseil_version = '~> 1.20240116.2'
     ss.dependency 'abseil/algorithm/container', abseil_version
     ss.dependency 'abseil/base/base', abseil_version
     ss.dependency 'abseil/base/config', abseil_version
diff --git a/gRPC-Core.podspec b/gRPC-Core.podspec
index 1624bceaeb2..1f25780fb3a 100644
--- a/gRPC-Core.podspec
+++ b/gRPC-Core.podspec
@@ -46,7 +46,7 @@ Pod::Spec.new do |s|
   s.requires_arc = false
 
   name = 'grpc'
-  abseil_version = '1.20240116.1'
+  abseil_version = '~> 1.20240116.2'
 
   # When creating a dynamic framework, name it grpc.framework instead of gRPC-Core.framework.
   # This lets users write their includes like `#include <grpc/grpc.h>` as opposed to `#include
diff --git a/templates/Package.swift.template b/templates/Package.swift.template
index 23334c0bc8b..496cd2686c2 100644
--- a/templates/Package.swift.template
+++ b/templates/Package.swift.template
@@ -25,8 +25,8 @@
       ],
     
       dependencies: [
-        .package(url: "https://github.com/firebase/abseil-cpp-SwiftPM.git", "0.20230802.0"..<"0.20230803.0"),
-        .package(url: "https://github.com/firebase/boringssl-SwiftPM.git", "0.9.0"..<"0.10.0"),
+        .package(url: "https://github.com/firebase/abseil-cpp-SwiftPM.git", "0.20240116.1"..<"0.20240117.0"),
+        .package(url: "https://github.com/firebase/boringssl-SwiftPM.git", "0.32.0"..<"0.33.0"),
       ],
     
       targets: [
diff --git a/templates/gRPC-C++.podspec.template b/templates/gRPC-C++.podspec.template
index b4c24348bf1..3231a52e24a 100644
--- a/templates/gRPC-C++.podspec.template
+++ b/templates/gRPC-C++.podspec.template
@@ -183,7 +183,7 @@
       ss.dependency "#{s.name}/Privacy", version
       ss.dependency "#{s.name}/Interface", version
       ss.dependency 'gRPC-Core', version
-      abseil_version = '1.20240116.1'
+      abseil_version = '~> 1.20240116.2'
       % for abseil_spec in grpcpp_abseil_specs:
       ss.dependency '${abseil_spec}', abseil_version
       % endfor
diff --git a/templates/gRPC-Core.podspec.template b/templates/gRPC-Core.podspec.template
index c3a0b10b0f3..6fe258801c9 100644
--- a/templates/gRPC-Core.podspec.template
+++ b/templates/gRPC-Core.podspec.template
@@ -122,7 +122,7 @@
     s.requires_arc = false
 
     name = 'grpc'
-    abseil_version = '1.20240116.1'
+    abseil_version = '~> 1.20240116.2'
 
     # When creating a dynamic framework, name it grpc.framework instead of gRPC-Core.framework.
     # This lets users write their includes like `#include <grpc/grpc.h>` as opposed to `#include