✉news BusinessBanking first seen 22 h ago, last 43 min ago, peak #1
India central bank's FX intervention drains nearly $20 billion in liquidity
Original: India central bank's FX blitz drains nearly $20 billion from surplus liquidity, bankers say
The Reserve Bank of India's heavy intervention in foreign exchange markets has drained close to $20 billion from the country's surplus liquidity, according to bankers. The central bank has been selling dollars to support the rupee, absorbing rupee funds in the process and tightening cash conditions in the banking system.
Why now: The scale of the intervention is notable and signals pressure on the rupee, with implications for banking liquidity and interest rates.
Rank over time, top of the chart is #1. 6 snapshots from 22 h ago to 43 min ago.
Evidence
- India central bank's FX blitz drains nearly $20 billion from surplus liquidity, bankers say · Reuters
- India central bank's FX blitz drains nearly $20 billion from surplus liquidity, bankers say · TradingView
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