Informal restrictions on rupee NDF trades in the offshore market were imposed in October to help defend a falling rupee.
December 17, 2022Indian banks, through their overseas operations, are now allowed to undertake activities that would not be permitted in the domestic market.
December 6, 2022The RBI started allowing local banks to participate in the NDF market in 2020, but their activity is adding further downward pressure on the rupee.
October 19, 2022Russia still has to identify its own corresponding banks to help facilitate trade with India, but this is expected to be announced in the next two weeks.
September 16, 2022Indian and Russian banks are discussing the use of customised trade accounts and an exchange rate mechanism that will enable trade settlement in rupees and rubles.
August 23, 2022India's attitudes against isolating Russia arise from its strategic interests with Moscow and a long history as a recipient of sanctions, says Mathew Chemplayil.
July 13, 2022The mechanism allows international trades to be invoiced and settled using the rupee, enabling India to buy Russian oil without US sanctions exposure.
July 13, 2022The RBI's move to provide US dollar liquidity amid a sinking rupee had the unintended consequence of squeezing liquidity in its domestic currency.
March 17, 2020