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India's RBI Launches $5.1 Billion Liquidity Auction Amid Crisis

2/1/2025

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Summary

Story summary

India's central bank launched a US$5.10 billion foreign-exchange swap auction, its first in five years, to alleviate a cash crunch.
Total liquidity support reached US$7.3 billion over two days, part of an US$18 billion initiative.
The current liquidity deficit is the highest in over a decade, posing risks to economic growth.
Strong demand for liquidity is evident, with bids totaling US$25.59 billion received by the RBI.

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Story summary

India's central bank launched a US$5.10 billion foreign-exchange swap auction, its first in five years, to alleviate a cash crunch.
Total liquidity support reached US$7.3 billion over two days, part of an US$18 billion initiative.
The current liquidity deficit is the highest in over a decade, posing risks to economic growth.
Strong demand for liquidity is evident, with bids totaling US$25.59 billion received by the RBI.