Thursday , 21 November 2024
Home Forex Reserve Bank of India Urges Banks to Avoid Large Short Bets as Rupee Nears Record Low
Forex

Reserve Bank of India Urges Banks to Avoid Large Short Bets as Rupee Nears Record Low

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.

Full Story on PiQ Suite

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.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

USDJPY bounces off 100 bar MA on the 4-hour chart. Can the buyers keep the momentum?

The USD/JPY pair moved lower during the morning U.S. session but found...

More from Goolsbee: Feels like we are heading to 2% inflation

Feel like we're headed to 2% inflation.Neutral is a long way below...

USDCHF moves above converged 100 and 200 hour MAs and rockets higher

Earlier today, I posted:USDCHF: The USDCHF held resistance at the 100-hour moving...

Matt Gaetz withdraws name for Attorney General nomination

This article was written by Greg Michalowski at www.forexlive.com.