RBI loosens liquidity as long-term rates spike

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After a slew of measures to extract liquidity from the market, the Reserve Bank of India has announced measures to purchase 80 billion rupees ($1.26 billion) worth of long-dated government securities on August 23.

The RBI has been removing liquidity from the market to counter the depreciation of the rupee since July this year. The currency hit an all-time low of 64.5 to a dollar yesterday. Since July 23, the central bank has been extracting liquidity from the market and said yesterday it will co

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