The Reserve Bank of India would consider further measures, if needed, to curb speculative trading in the foreign exchange market, Governor Sanjay Malhotra said in an interview on Tuesday.
“The RBI is determined to do whatever is necessary to ensure orderly movement in the foreign exchange market,” Malhotra said late Tuesday. The central bank’s recent steps should not be seen as capital control measures and those were aimed at ensuring that forex markets serve genuine hedging needs rather than speculative bets, the governor said.
