India, April 2 -- Amid continued depreciation in the Indian rupee, the Reserve Bank of India has announced additional measures targeting authorised dealers (ADs), effective immediately, following a review of evolving market conditions.
As part of the new directives, authorised dealers—banks permitted to handle foreign exchange transactions—will no longer be allowed to offer non-deliverable derivative contracts involving the rupee to both resident and non-resident participants, according to the central bank's notification.
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