09 Apr 2026 | 3 Mins Read
Banks close bulk India rupee arbitrage positions before RBI deadline
Flipitmoney
The Reserve Bank of India imposed $100 million net open position limits on banks in the onshore rupee market, requiring compliance by April 10. Banks exited approximately $40 billion in arbitrage positions, with most unwound by April 7, despite the RBI's aim to curtail volatility. The rupee slipped 0.2% to 92.77 per dollar.