RBI asks some lenders to cut speculative bets against rupee, sources say
Fri, Nov 22, 2024 3:09 PM

RBI asks some lenders to cut speculative bets against rupee, sources say

A Flip by Shubhangi Gupta
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The Indian central bank, in a rare move, instructed some banks to cut long positions on the dollar-rupee pair on Friday, seeking to reduce speculative positions with the currency at a record low, four bankers directly familiar with the development told Reuters. The Reserve Bank of India's financial market regulations department informally communicated the instructions to banks, the bankers said.

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