Banks have largely exited Indian rupee arbitrage trades, complying with the Reserve Bank of India’s $100 million net open position limit. These measures, aimed at curbing FX market volatility, were implemented by April 10. Market participants estimate around $40 billion in arbitrage positions have been unwound, with recent price action indicating the completion of these exits.
Calcutta Stock Exchange seeks to put exit application on hold
The Calcutta Stock Exchange requested Sebi to withhold its exit application. This action follows the West Bengal government’s support for reviving the exchange. The exchange