Source: Reuters (via feed)
India’s central bank issued a directive for banks to cap their net open positions in the rupee foreign exchange market. The limit is set at $100 million at the end of each business day. Authorized dealers are required to comply with this rule by April 10.
BizTrendWire Insight:
The cap imposes a fixed limit on banks’ net open rupee positions in foreign exchange markets. This directive has a set compliance date for authorized dealers.
The cap imposes a fixed limit on banks’ net open rupee positions in foreign exchange markets. This directive has a set compliance date for authorized dealers.
