24 days ago

** Welcome To The Choke Points **
India’s rupee slid past the psychological 90-per-dollar line—and the real story isn’t just “currency weakness.” It’s the plumbing: how dollar inflows tighten when exports face pressure, how RBI intervention works in spot vs forwards, and why headlines about India selling U.S. Treasuries (TIC data) often signal liquidity management—not ideology.

In this video, we connect the dots between tariffs → export receipts → bank dollar liquidity → USD/INR spikes → RBI response, and where BRICS/local-currency trade fits into the bigger trend: reducing routine dollar dependence while still needing USD liquidity in stress moments.

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**Chapters**

00:00 — Why 90/USD matters (psychology vs reality)
01:20 — Tariffs & export dollars: what actually changes
03:40 — The USD/INR machine: who buys dollars and why
06:10 — RBI intervention: spot, forwards, swaps (simple explanation)
09:10 — What is TIC data and why “Treasury selling” shows up
12:00 — Does selling Treasuries “replace export dollars”? (the truth)
15:10 — Local-currency trade: less dollar demand, but not zero USD need
18:00 — The real endgame: optionality, volatility control, and liquidity
20:30 — What to watch next (signals that matter)