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The Reserve Bank of India asked local banks not to build additional positions in the non-deliverable forward market to arrest the rupee's slide. The report said the move could push offshore volatility into the local market.
The measure is aimed at curbing speculative pressure on the currency.
Restricting offshore rupee positioning may reduce short-term depreciation pressure, which would ease the dollar cost of Indian imports. It also adds volatility risk for currency hedging by feed importers.
reuters.comNimesh VoraOct 13, 2022Not 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.
