Sliding Re Forces Rulebook Change

.....The Reserve Bank of India banned banks from indulging in proprietary trading in currency derivatives, which took the pressure off the currency, and the Securities & Exchange Board of India raised margin requirements for non-bank traders in a notification issued late on Monday evening. Further, state-run oil firms have accepted RBI’s proposal to bid for US dollars through just one bank on a given day instead of multiple bids that magnified dollar demand and led to many banks building up positions, said people familiar with the development........ 

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