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RBI moves to ease liquidity crunch

  • Indian banks get a lift after the central bank moves to roll back at least one emergency move taken to halt the sliding currency - cutting the marginal standing facility rate 50 basis points to 9%. The benchmark repurchase rate is held at 7.5%.
  • The rupee is up about 11% vs. the greenback after hitting a record low in late August, but weakened somewhat today.
  • ICICI Bank (IBN +2.4%), HDFC Bank (HDB +1.1%).
  • Indian ETFs: INDY, EPI, PIN, INP, INDA, INXX, SCIF, SCIN, INDL, SMIN.
  • Rupee ETFs: ICN, INR.
Comments (1)
  • minecanary
    , contributor
    Comments (411) | Send Message
     
    Must be from that halt of gold imports...Maybe China will do the same if we promise to pass an unlimited debt ceiling for the clowns in Washington to hand out to their buddies
    7 Oct 2013, 03:39 PM Reply Like
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