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The Reserve Bank of India intensifies efforts to stabilize the rupee as it approaches a record low, implementing strong measures akin to those during the 2013 taper tantrum. Key developments include opening a dollar window for oil refiners and introducing reserve requirements for forex derivatives. Analysts weigh in…
Lenders have approached RBI via a forex industry body, seeking the removal of a mandate that banks make a 20% cash deposit with the RBI for FX derivatives used to hedge current-account exposures
The Reserve Bank of India’s latest measures to support the rupee could trigger a sharp near-term recovery in the currency, but the bigger challenge may lie ahead. By curbing speculative dollar demand and redirecting a large chunk of oil companies’ dollar purchases to the central bank, the RBI is at…