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MUMBAI, April 6 (Reuters) - Indian companies' activity in the non-deliverable forwards (NDF) market surged to over $7 billion on March 30, around seven times the average, signaling a rush to capture arbitrage opportunities created by banks unwinding positions following regulatory curbs. The unwinding followed the Reserve Bank of India's imposition of restrictions on lenders' net onshore open FX positions, prompting a rush to lower positions aimed at benefitting from gaps between onshore and non ...Read More >
Mumbai: The Reserve Bank of India (RBI) late Wednesday tightened its foreign exchange regulations prohibiting banks from offering non-deliverable forward (NDF) contracts to clients, reinforcing measures taken late last week to support the rupee that last fiscal lost the most in 14 years against the US dollar. The new rules could dent banks and large corporate treasuries, experts said. The regulator said banks cannot offer NDF contracts involving the rupee, which lost nearly 10% in FY26, to resi ...Read More >
New Delhi: Traffic in central Delhi will be affected on Thursday as the traffic police has issued an advisory due to the Janmashtami and Tazia processions.According to police, the traffic movement in Paharganj is likely to be affected from 1.30pm in view of the shobha yatra for Janmashtami and the Tazia procession.The Janmashtami procession will start from Mandir Shri Banke Bihari Ji in Paharganj's Sangatrasan Bazar and pass through Desh Bandhu Gupta Road, Chuna Mandi, Main Bazar, Munja Chowk an ...Read More >
Mumbai: Recent declines in India's forex stockpile signal significant home-and-away central bank interventions in the past fortnight, estimated by some to be worth about $5-$6 billion in the offshore rupee market, to curb excessive depreciation of the local currency, bank treasury officials told ET. Market participants point to at least two instances of the Reserve Bank of India's (RBI) likely presence in the offshore non-deliverable forwards (NDF) market, particularly around 9 am, just before ...Read More >
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