Indian regulators clamp down on forex futures markets to dampen rupee volatility
Measures to reduce Indian currency volatility may prove a short-term boost to domestic OTC markets
The Reserve Bank of India (RBI) along with the Securities and Exchange Board of India (Sebi) has barred onshore banks from putting on proprietary positions in exchange-traded rupee dollar futures and options to curb currency volatility.
The rupee has lost over 13% of its value since the beginning of April falling to an all-time low of 61.21 rupees to the dollar on July 8 because of a global sell-off of emerging market assets, following an announcement by the US Federal Reserve of its intention
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