RBI, Sebi attack currency speculator; but rupee stays intact
The policy response of attacking speculators is flawed.
Reserve Bank of India (RBI) and Securities and Exchange Board of India (Sebi) moved decisively against the chief enemy of the state (read currency speculator) last week. The central bank told commercial banks they couldn’t trade on their own account in the exchange-traded currency derivatives market, while the markets regulator cut position limits drastically and doubled the upfront margin requirements.
Login to enjoy exclusive benefits!
- Unlocked premium articles
- Personalized news
- Market Watchlist
- Insightful Newsletters & more