# India’s secret stimulus is a bad sign

> Bloomberg columnist Andy Mukherjee argues the RBI has been buying large amounts of dollars through auctions, with $10 billion bought over a month and a commitment to reverse the trade in 2022. He questions official 7% GDP growth figures and the central bank's jumpy stance ahead of the election. Two quarter-point rate cuts since February are also cited.

- Date: 2019-04-28 · published 2019-04-28T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/59890-india-s-secret-stimulus-is-a-bad-sign
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Large RBI dollar purchases inject rupee liquidity and can keep the rupee's direction uncertain, which matters for pricing dollar-denominated imports.

## Sources

- gulfnews.com: https://gulfnews.com/business/analysis/indias-secret-stimulus-is-a-bad-sign-1.63609118

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