{
  "id": 14366585,
  "title": "RBI open to more steps to curb FX speculation, Governor Sanjay Malhotra says",
  "url": "https://urgent.news/2026/10/14/rbi-open-to-more-steps-to-curb-fx-speculation-governor-sanjay",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-14T03:52:53.000Z",
  "source": {
    "name": "The Economic Times - Economy",
    "slug": "the-economic-times-economy",
    "url": "https://economictimes.indiatimes.com/news/economy/indicators/rbi-open-to-more-steps-to-curb-fx-speculation-governor-sanjay-malhotra-says/articleshow/134931504.cms"
  },
  "original_language": "en",
  "account": "The Reserve Bank of India (RBI) has expressed willingness to implement additional measures to address speculative trading in the foreign exchange (FX) market, according to Governor Sanjay Malhotra. Speaking in an interview on Tuesday, Malhotra emphasized the central bank's commitment to maintaining a stable and orderly FX market. He reiterated that the RBI's recent actions are not indicative of capital control measures but are instead aimed at ensuring that the forex market serves genuine hedging purposes rather than speculative bets. The rupee demonstrated resilience in the offshore market on Wednesday, with dollar-rupee non-deliverable forwards decreasing by up to 0.1% to 95.36. The Indian currency had also outperformed its counterparts in the previous session, rising by up to 0.8% to 95.01 per dollar, following a 1% increase on Monday. These gains were attributed to the RBI's decision to extend curbs on certain types of derivative transactions, further bolstering the rupee's strength. This move was part of a series of recent actions undertaken by the RBI, including a special window for oil firms to meet their dollar requirements and broader restrictions on derivative markets, as the rupee approached record lows. The RBI has also been actively intervening in the currency market to support the local unit, as reported by Bloomberg. Malhotra pointed out that in the past few months, a significant proportion of trades have been canceled and rebooked on the same day, with approximately one-third of trades being closed or canceled on the day they were executed. Earlier this month, the Monetary Policy Committee (MPC) of the central bank increased its benchmark repurchase rate by 25 basis points to curb accelerating inflation and support a weakening rupee amidst foreign fund outflows.",
  "summary": "RBI Governor Sanjay Malhotra said the central bank may take further steps to curb speculative forex trading and ensure orderly movement in the currency market. He said recent restrictions aim to support genuine hedging needs, not impose capital controls.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "NDTV",
        "title": "Open To More Steps To Defend Rupee, Curb Forex Speculation: RBI Governor",
        "url": "https://urgent.news/2026/10/14/open-to-more-steps-to-defend-rupee-curb-forex-speculation-rbi-governor",
        "published": "2026-10-14T06:07:39.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}