India Imposes Strict Dollar Demand Curbs to Support Rupee
India has introduced strict measures to curb dollar demand in order to defend the rupee amid rising oil prices. The Reserve Bank of India (RBI) has opened a special window for public sector oil companies to meet their daily dollar requirements. Additionally, RBI has tightened forex derivative rules to limit speculative bets against the rupee and regulate hedging and cancelled trades.
Reuters·




