New Delhi, Oct. 13 -- The Reserve Bank of India's (RBI) new foreign exchange rules are expected to raise hedging costs for importers and reduce excessive demand for dollars, easing pressure on the rupee, according to a report by ICICI Bank.

The report said the measures are aimed at curbing dollar demand arising from currency hedging by importers, which has remained strong even as exporters have stayed on the sidelines and forward premia have increased over recent months.

"With the new measures, RBI has made it more expensive for importers to hedge. Also, the volume in the market should see a decline given cancellation and rebooking of contracts are not going to take place," the report said.

The RBI has introduced several regulatory mea...