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INR/USD: India RBI Uses Currency Swaps to Reduce $115 Billion Cash Surplus
Source: Bloomberg
Banking & LiquidityCurrency & FXMonetary Policy
India's central bank reportedly used currency swaps to absorb liquidity from banks as surplus cash in the financial system reached a record. The liquidity-draining operation signals efforts to manage excess funds and limit potential distortions in short-term money markets.
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