Rupee to face more volatility as banks rush to unwind $30 billion trades: Report

The Indian rupee may see increased volatility as banks plan to unwind an estimated $30 billion in arbitrage trades following new RBI rules. Banks have already closed $4-10 billion in positions, Moneycontrol reported. The move comes after the RBI imposed a $100-million limit on banks' net open positions on the rupee in the foreign exchange market.