India Forces Banks to Unwind Rupee Bets, Squeezing Short Sellers 1 / 3 [Yahoo! Finance Canada]
Shinhan Financial Group Co Ltd American Depositary Shares (SHG)
US:NYSE Investor Relations:
shinhangroup.co.kr/en/invest/main.jsp
Company Research
Source: Yahoo! Finance Canada
Late Friday, the Reserve Bank of India announced new rules capping the open positions banks can hold in the onshore currency market at $100 million at the end of each trading day. The change, effective April 10, forces lenders to shrink their books, limiting their ability to run large one-sided bets against the rupee. The urgency reflects mounting concern about the rupee, which has slid to successive record lows following the Iran war. That is pushing the RBI to shift away from relying mainly on spot and forward market interventions — tools that have already contributed to a more than $30 billion drawdown in foreign-exchange reserves in the first three weeks of March — to more direct measures targeting financial institutions. “The move signals clear discomfort with rupee weakness and reflects a shift from direct intervention to controlling market positioning, offering near-term stability but limited influence on longer-term fundamentals,” said Kunal Sodhani, head of treasury at S
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SHG
Sec Filings
- 4/8/26 - Form 6-K
- 3/31/26 - Form 6-K
- 3/26/26 - Form 6-K
- SHG's page on the SEC website