'Impossible trinity' fuels cash crunch as Asia battles strong dollar

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'Impossible trinity' fuels cash crunch as Asia battles strong dollar - Business Standard

Quick Summary:

One central bank is starting to push back against the side effects of defending its currency.

The Reserve Bank of India said on March 5 that it would inject $21.5 billion into the financial system through a mix of bond purchases and swap auctions before the March 31 year-end, its latest attempt to offset the cash crunch.

Rising interbank rates are a sign of a cash shortage that could hit the wider economy, discouraging banks from lending and potentially crimping economic growth.