India Trading Ban Rocks $149 Billion-a-Day Offshore Rupee Market

India banned its banks from offering the most popular instrument for trading the rupee offshore, threatening to squeeze a $149 billion-a-day market in an extreme step to shore up its...

By Bhaskar Dutta, Pratigya Vajpayee · Bloomberg Markets

India banned its banks from offering the most popular instrument for trading the rupee offshore, threatening to squeeze a $149 billion-a-day market in an extreme step to shore up its tumbling currency.