← Latest news 
RBI bans rupee NDF forwards and shifts FX trading offshore to defend the rupee
Economy
Published on 24 April 2026
Banks can’t rebook rupee NDFs, so trades move abroad
The Reserve Bank of India has banned banks from offering or rebooking rupee non-deliverable forward contracts, a move expected to widen the gap between domestic and overseas FX pricing. With the restriction in place, banks are reportedly selling dollars locally while buying them abroad. RBI says the goal is to curb speculative activity and bolster the rupee against the US dollar.
- RBI bans banks from offering or rebooking rupee NDF forward contracts
- The change widens the domestic versus overseas FX pricing gap
- Banks may sell dollars locally and buy them abroad instead
- Policy targets speculation and aims to support the rupee
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times