Not a good day in India to start the week. The rupee’s currency crisis is accelerating. The central bank is burning through reserves at an unsustainable pace. India stocks were crushed, with the main SENSEX index down over a thousand points. Delhi also significantly dialed back its growth estimates while reports came out it is going to massively restate its November imports. Why is all this happening? It's not because of Jay Powell or Donald Trump. 

Eurodollar University's Money & Macro Analysis

Hindustan Times Stock market today: Sensex and Nifty tanks, rupee hits all-time low
https://www.hindustantimes.com/business/stock-market-crash-sensex-tanks-nearly-700-points-on-open-nifty-down-over-200-101736737599073.html

Bloomberg Deepening India Slowdown Sinks Hope for New Era of 8% Growth
https://www.bloomberg.com/news/articles/2025-01-08/india-s-deepening-slowdown-dashes-hopes-for-new-era-of-8-growth

Bloomberg India’s Central Bank Said to Ease Rupee Drought With FX Swaps
https://www.bloomberg.com/news/articles/2025-01-13/india-s-central-bank-said-to-ease-rupee-drought-with-fx-swaps

Business Standard 'If they tax us, we tax them': Trump threatens reciprocal tariffs on India
https://www.business-standard.com/external-affairs-defence-security/news/trump-threatens-reciprocal-tariffs-india-trade-conflict-124121800321_1.html

Bloomberg It May Rain Downgrades This Earnings Season in India
https://www.bloomberg.com/news/articles/2025-01-13/india-market-buzz-big-money-in-small-companies-looks-tough-now

Bloomberg India Fixing Record Trade Gap After Overstating Gold Imports
https://www.bloomberg.com/news/articles/2025-01-08/india-fixing-record-trade-deficit-after-overstating-gold-imports

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