RBI’s War on Speculators Backfires: Rupee Hedging Premiums Spike to 17-Year High in Panic

A rally in the Indian rupee, triggered by the central bank’s curbs on speculative and arbitrage positions, sparked a scramble among importers to lock in dollar exposure, pushing hedging costs up by the most since the 2007-2009 global financial crisis. One-year dollar hedging cost

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