 "Reserve Bank of India")
The Reserve Bank of India (RBI) is having second thoughts on its currency intervention strategy and may include offshore non-deliverable forwards (NDF) markets in its field of operations.
This is to torpedo the activities of speculators dragging the rupee to record lows.
The central bank, in its sixth bi-monthly monetary policy review, said it would form a task force to examine the offshore rupee market.
The RBI’s Statement on Developmental and Regulatory Policies, released alongside the monetary policy statement, said, “The task force will examine the issues relating to the offshore rupee markets in depth and recommend appropriate policy measures
