RBI Tightens Rupee Derivative Rules as Currency Hovers Near Record Low
India's central bank has tightened rules on rupee-linked foreign exchange derivatives and opened a dedicated dollar window for the country's state-owned oil marketing companies, steps aimed at curbing speculative dollar demand as the rupee trades close to its record low. According to aliceblueonline.com, the measures are expected to limit speculative activity in the currency market and keep the rupee in a stable range, with analysts cited in its report estimating a gain of about 1 percent for the currency.
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