Rupee Set to Climb Amid Arbitrage Unwinding Prompted by RBI Position Limits

Rupee set to climb amid arbitrage unwinding prompted by RBI position limits

Rupee rebounds 128 paise from all-time low to 93.57 against US dollar in early trade

Mumbai, Mar 30 (PTI) The rupee recovered 128 paise from its all-time low to 93.57 against the US dollar in early trade on Monday, after the Reserve Bank brought down the net open position that banks can keep overnight at USD 100 million. Forex traders said the rupee opened stronger as banks who generally have long positions, may have to cut their positions taken in onshore currency markets as per the RBI Director. Through its circular dated Marc…

Rupee Surges Over 1% Against US Dollar After RBI's FX Rule

Set to take effect on April 10, the rule will require lenders to reduce the size of their currency exposures, curbing their ability to take large, one-sided positions against the rupee.

RBI FX Rules: $30B Unwinding Prompts Relaxation Plea - Archyworldys

RBI Faces Pressure to Ease Forex Rules Amid $30 Billion Unwinding Risk Indian financial authorities are under increasing pressure to reconsider recently…