# India: RBI extends its QE programme - UOB - Forex Crunch

> The Reserve Bank of India committed to buying 1 trillion rupees (about US$13.4 billion) of government bonds in the first quarter of fiscal 2021/22 through its G-SAP 1.0 programme. The rupee slid over 1.5% to 74.56 per dollar on the announcement day, its biggest daily drop in a while, as analysts saw the purchases as expanding money supply.

- Date: 2021-04-13 · published 2021-04-13T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/47892-india-rbi-extends-its-qe-programme-uob-forex-crunch
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

The bond-buying programme raises liquidity and money growth, which analysts see as pressure for a weaker rupee and higher USDINR. This affects the cost of dollar-priced imports for Indian buyers.

## Read by commodity

- USDINR: bullish ▲

## Sources

- forexcrunch.com: https://www.forexcrunch.com/blog/2021/04/13/india-rbi-extends-its-qe-programme-uob/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.