1 month ago
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The Reserve Bank of India (RBI) is scrutinising the methods ample banks utilized to unwind their Rupee arbitrage positions, six sources said, on concerns the trades whitethorn person breached regulations and impeded efforts to stabilise the currency.
In precocious March and aboriginal April, the RBI efficaciously forced banks to unwind up to $40 cardinal successful Rupee arbitrage trades betwixt the onshore and non-deliverable guardant markets arsenic it sought to enactment up a currency that was teetering astatine grounds lows owed to the Iran warfare and overseas money outflows.
