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India tightens rules on trading in currency forwards after rupees plunges

Posted on 19 December 2011

India’s central bank curbed trading in rupee forwards, seeking to temper speculation after Asia’s worst-performing currency fell to a record low.
Forward contracts once canceled cannot be bought again, the Reserve Bank of India said in a statement on its website yesterday. The new rule applies to domestic as well as foreign investors and takes effect immediately. Forwards are agreements to buy or sell assets at a set price and date………………………………………..Full Article: Source


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