India’s RBI Eases Some Curbs on Banks’ Forex Market Trades

India’s central bank eased some restrictions on lenders’ currency market transactions, signaling a partial rollback in some of its most aggressive steps in decades to defend the rupee.

The Reserve Bank of India said Monday it will withdraw measures issued on April 1 that barred lenders from offering rupee-linked non-deliverable forwards, the most widely used tools for offshore trading. The one-month dollar-rupee offshore contract traded 0.5% higher after the move.