RBI crackdown on rupee bets drives India's dollar hedging to 8-month low
FROM THE WIRE · BUSINESS-STANDARD.COM
Buying of forward dollars, or commitments by companies to acquire the US currency at a later date, fell 35% in October from a record high the previous month to $49.5 billion
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: neutralThe crackdown on currency bets affects dollar hedging flows and the rupee market.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Buying of forward dollars fell 35% in October from a record high the previous month.
- 02The volume fell to $49.5 billion.