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INDIA: RBI Injects Liquidity into System to Avert Cash Squeeze

INDIA
IndiaEM BulletBulletAPACEmerging Market News

 

  • India’s RBI announced plans to inject INR600bn via bond purchases, and INR500bn via the swaps market on January 30, to ease a liquidity squeeze.  A further INR500bn will be injected via reverse repo.   
  • India’s NIFTY 50 has bounced back from yesterday’s very weak day to be +0.25% higher in early trade.
  • INR:  the rupee was under pressure from a strengthening USD, weaker by -.215 at 86.52.
  • Bonds: new liquidity measures announced by the RBI has given rise to lower yields with the IGB 10YR down by 4bp this morning at 6.645%
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  • India’s RBI announced plans to inject INR600bn via bond purchases, and INR500bn via the swaps market on January 30, to ease a liquidity squeeze.  A further INR500bn will be injected via reverse repo.   
  • India’s NIFTY 50 has bounced back from yesterday’s very weak day to be +0.25% higher in early trade.
  • INR:  the rupee was under pressure from a strengthening USD, weaker by -.215 at 86.52.
  • Bonds: new liquidity measures announced by the RBI has given rise to lower yields with the IGB 10YR down by 4bp this morning at 6.645%