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The Economic Times

Markets / The Economic Times

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NDF difference swings as banks stay away from usual forex bets

New RBI curbs on net open rupee positions created volatility in dollar-rupee forwards. Initially, the gap between domestic and overseas rates widened significantly as banks anticipated selling dollars locally. However, this difference narrowed as banks adopted a wait-and-watch approach, expecting potential RBI relief, leading to a near-Friday closing level.

31 Mar 2026 7:01 am