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Rupee’s oil relief capped by RBI's FX book, interest payment hedges, bankers say
RBI's expanding FX forward book and interest payment hedges are likely to limit the rupee's appreciation despite lower oil prices.
Rupee’s oil relief capped by RBI's FX book, interest payment hedges, bankers say
The Indian rupee's upward surge encounters some obstacles. As the Reserve Bank of India gradually dissolves a hefty foreign exchange forward book, banks are also preparing for interest payments on foreign currency holdings. These maneuvers are likely to soak …