RBI has finally announced some additional curbs on speculation yesterday which were always considered likely. While it has curbed trading in Rupee forwards, which might not be a regular practice, market players seem to have forced its hand with FX speculation in the USDINR=X chart working on real export contracts , cancellation and rebooking of the same giving banks net open positions worth their position on the currency

Cancellation and Rebooking of currency contracts has now been denied and also RBI would be lowering and watching Net Open positions per bank onthe currency. 

Posted via email from The India Investment Post