RBI shows rupee comfort in easing FX rules for exporters
Jan 23 2013
The RBI had in May 2012 asked exporters to access forex markets only after fully utilising funds in exporter accounts at a time when the rupee was sharply falling and on its way to hit a life low of 57.32 in late June.
Some dealers say RBI's announcement on Tuesday may lead to some rise in USD demand in spot from exporters, but nothing significant.
"What it means is the RBI's comfort on the rupee. It is a significant dilution in the bearish set up on rupee," says a senior treasury official.