........The regulator also suspects that brokers and traders might be indulging in unauthorised trading of foreign exchange in the spot forex market, sources said, while adding that these issues are being flagged to the Reserve Bank. While the RBI mainly regulates the forex market, currency derivatives come under Sebi’s jurisdictions as they are traded on the stock exchanges. However, the suspected manipulations are mostly taking place outside the stock exchange platform and the brokers are luring gullible investors to place bets on currency pairs on promises that rupee is going to touch even lower levels............
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