Banks have largely exited Indian rupee arbitrage trades, complying with the Reserve Bank of India's $100 million net open position limit. These measures, aimed at curbing FX market volatility, were implemented by April 10. Market participants estimate around $40 billion in arbitrage positions have been unwound, with recent price action indicating the completion of these exits.
Banks exit bulk of India rupee arbitrage positions ahead of RBI deadline, sources say
Banks have largely exited Indian rupee arbitrage trades, complying with the Reserve Bank of India’s $100 million net open position limit. These measures, a…
