RBI Governor Says Forex Traders Must Hedge, Not Speculate
Governor Sanjay Malhotra said the RBI tightened foreign-exchange transaction rules after observing same-day cancellations in a high proportion of trades, reaching nearly one-third in some cases.
The Reserve Bank of India (RBI) tightened rules governing foreign exchange transactions after observing a high proportion of trades being cancelled on the same day, with nearly one-third of transactions in some cases being closed on the day they were entered into, Governor Sanjay Malhotra said on M…