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flag Indian firms drove NDF trading to $7.54 billion amid currency restrictions.

flag Indian companies capitalized on a sudden currency arbitrage opportunity, driving non-deliverable forward trading to $7.54 billion in a single day. flag This surge followed Reserve Bank of India restrictions on banks, prompting lenders to unwind trades and widen the gap between onshore and offshore rates. flag While the rupee initially fell to a record low, subsequent regulatory actions helped stabilize the currency.

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