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HomeNewsOpinionRBI policy has an unintended consequence (arbitrage) -- and an intended one (boosting bank margins)

RBI policy has an unintended consequence (arbitrage) -- and an intended one (boosting bank margins)

Rajrishi Singhal   •

The two measures announced in the credit policy, one on foreign currency deposits and another on cutting the CRR are measures taken from an old playbook when faced with similar situations

The central bank has so far been intervening in all the foreign exchange markets—the spot, forward and non-deliverable forwards markets—to ensure that the rupee depreciation is orderly

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