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Some banks are said to stop quoting interbank USD/INR forwards after the RBI widened scope of forex risk reserve, according to traders

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Traders reportedly described banks pausing some interbank USD/INR forward quotes amid uncertainty over the widened forex risk reserve; a source said market-making and trading were not covered.

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India's new FX curbs are said to sow confusion, with bankers awaiting clarity on dealing rupee derivatives, while a source says market-making India's forex risk reserve requirement is not applicable on banks' market making or trading transactions.

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