India has suffered a major currency drop, serious interbank liquidity problems, one of the largest central bank FX interventions in its history, a stock rout, and, for good measure, the third of three straight negative CPIs. And that's just the last four days. 

Eurodollar University's Money & Macro Analysis

Bloomberg India Central Bank Punishes Rupee Speculators in Surprise Move
https://www.bloomberg.com/news/articles/2025-02-11/india-central-bank-intervenes-to-curb-speculative-rupee-bets

Reters Indian central bank hikes overnight fund infusion post heavy FX intervention
https://www.reuters.com/business/finance/indian-central-bank-infuse-record-overnight-funds-post-heavy-fx-intervention-2025-02-12/

Bloomberg Modi Returns to US With Lost Clout as Stock, Economic Boom Fades
https://www.bloomberg.com/news/articles/2025-02-12/modi-returns-to-us-with-lost-clout-as-stock-economic-boom-fades

Bloomberg Indian Stocks Trim Losses as Dip Buying Provides Respite
https://www.bloomberg.com/news/articles/2025-02-12/indian-stocks-slump-to-lowest-since-june-as-global-funds-flee

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