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RBI nudges banks to cut speculative bet in rupee
Mint Mumbai
|November 23, 2024
The Indian central bank, in a rare move, instructed some banks to cut their long positions on the dollar-rupee pair on Friday, seeking to curb speculative positions with the currency at a record low, four bankers familiar with the development told Reuters.
The Reserve Bank of India's financial market regulations department informally communicated the instructions to banks, they said. RBI did not immediately respond to email seeking comment.
This story is from the November 23, 2024 edition of Mint Mumbai.
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