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The Economic Times
The Economic Times

RBI moves to support rupee at 96.78, cracks down on forex derivatives

Reserve Bank of India Indian Rupee Monetary Policy

The Reserve Bank of India (RBI) on Saturday announced a series of measures to ease pressure on the rupee, tightening rules for foreign exchange derivatives, restricting the rebooking of cancelled contracts and introducing a cash reserve requirement for large trades.

The rupee is currently trading at 96.78 against the US dollar, close to its all-time low of 96.95 hit in May.

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