To defend rupee, RBI widens forex lens beyond banks to corporate treasuries
“They should do it to exporters, who have been sitting on dollars… and force them to bring it to India,” a forex dealer said, referring to the extended timelines for repatriation of export proceeds that could lead to lower supply of dollars in the domestic market. However, others said that such steps may have limited impact or could be used more selectively, depending on broader liquidity conditions.
