Rupee rises against the Dollar after RBI directs banks to cap open rupee positions at $100 million
Analysts say banks may be holding much more than $100 in long US dollar positions and unwinding them. This will lead to a near-term surge in dollar supply, in turn lifting the rupee.
Analysts say banks may be holding much more than $100 in long US dollar positions and unwinding them. This will lead to a near-term surge in dollar supply, in turn lifting the rupee.
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