RBI to require banks report 70% of global rupee derivatives
Business
The Reserve Bank of India (RBI) is planning to require banks to report rupee derivative trades that happen outside India.
The goal? More transparency in the foreign exchange market.
Right now, only trades done within India are reported by foreign banks, but the RBI wants at least 70% of global rupee foreign exchange derivatives reported starting February 2027.
Offshore $60bn trades risk rupee volatility
Offshore rupee trading is a big deal: $60 billion worth happened just in April 2025, and it can seriously impact how much the rupee is worth back home.
Some foreign banks are worried these new rules might clash with their local laws.
Still, Indian authorities say it's about keeping the rupee stable and curbing wild swings caused by overseas trades.