Reserve Bank of India Urges Banks to Avoid Large Short Bets as Rupee Nears Record Low
globalreutersOctober 7, 20241 Mins read India’s central bank has instructed both state-run and private banks to refrain from taking significant short positions against the rupee as it approaches record-low levels.
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The Reserve Bank of India (RBI) intervened via informal communications to stabilize the currency, which has been under pressure for several trading sessions.
This article was written by Ryan Paisey at www.forexlive.com.
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