RBI eases NOP positions for banks amid forex support
pre-market1 source ↓written by the desknot a recommendation
The Reserve Bank of India has eased the net open position (NOP) requirements for banks, allowing exclusions for hedged transactions related to FCNR-B deposits and external commercial borrowings (ECBs). This move aims to support the depleting forex reserves and strengthen the rupee. The changes could enhance the attractiveness of FCNR-B deposits and ECB swap facilities for banks.
Not investment advice. For informational purposes only.