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Investors are moving rupee hedging and arbitrage activity to Singapore after the RBI restricted local rupee futures. Open interest on Singapore Exchange rupee futures rose about 400% this year to 268,000 contracts.
The shift in offshore hedging reflects RBI efforts to manage rupee volatility and has little direct effect on feed commodity prices.
moneycontrol.comReutersJul 9, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
