RBI drains $20 billion liquidity via FX operations: What it means for rupee, rates

Mint has reported a new India-focused economy development: “RBI drains $20 billion liquidity via FX operations: What it means for rupee, rates.” The publisher's feed describes the story as follows: The RBI has drained nearly $20 billion in excess rupee liquidity through foreign exchange operations, bond sales and reverse repos. The measures, along with tax outflows, have sharply reduced the banking system's liquidity surplus, while FX swaps have emerged as a key liquidity tool. Intellectual Ja
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