RBI Governor Sanjay Malhotra signals further steps to curb speculative forex trading

• RBI Governor Sanjay Malhotra said the central bank would consider further measures to curb speculative trading in the forex market.
He said the recent steps are not capital controls but aim to ensure the market serves genuine hedging rather than bets.
He said a very high share of trades had been cancelled and rebooked on the same day in recent months.
The rupee rose as much as 0.8% to 95.01 against the dollar on Tuesday, after a 1% gain the day before.

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