The Reserve Bank of India is tightening oversight of foreign-exchange markets and non-deliverable forward (NDF) norms to curb rupee volatility. Recent directives cap banks’ net open foreign-exchange positions and prohibit offering rupee NDF contracts, forcing unwinding of existing positions and preventing new ones. These measures aim to stabilize the rupee by reducing arbitrage opportunities and offshore influence.
Oil prices extend gains as Trump sharpens rhetoric on Iran
Oil prices climbed Tuesday as President Trump intensified threats against Iran over the Strait of Hormuz. Iran rejected a ceasefire, demanding a permanent end to