RBI Takes Steps To Curb Speculation Against Backdrop Of Record Lows


As the Indian rupee continued its free fall last week, registering a new low of 39.85 against the US dollar on December 3, the Reserve Bank of India (RBI) banned corporates from rebooking forward contracts cancelled for non-trade transactions, according to central bank officials. Authorized forex dealers have also been banned from offering corporates forward contracts for hedging purposes without documented evidence of exposures, say the RBI officials.

The facility granted to authorized dealers

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: