Here’s a Look at More RBI Policy Tools to Control Currency

The Reserve Bank of India jolted currency markets by barring banks from offering the most widely used offshore rupee trading instrument, sending the currency to its biggest gains since 2013.

The move — targeting the $149 billion-a-day non-deliverable forwards market — signals a more forceful push after last week’s step of capping onshore positions at $100 million a day provided only a brief reprieve for the battered currency.