Excess liquidity in India's banking system fell from 11 trillion rupees ($116 billion) in early September to 462 billion rupees by October 26, Bloomberg reports. The country's central bank is deliberately limiting the amount of funds available to hedge the rupee, making bets against the currency more expensive for traders. As a result, short-term credit costs rose and rates on new three- and six-month certificates of deposit rose by 40 to 50 basis points, hitting seven-month highs.