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The RBI's new rules have sparked more hedging activity, making things less stable for now.
Amit Pabari from CR Forex Advisors shared that while the market is slowly settling down, limits on speculation remain in place.
With importers scrambling for US dollars due to global worries and the temporary ceasefire was described as fragile and set to expire this week, dollar demand is likely to increase in the near term, making the rupee even more vulnerable in the short term.