RBI Mandates USD 100 Million Daily Cap on Rupee Net Open Position:

RBI Mandates USD 100 Million Daily Cap on Rupee Net Open Position The Reserve Bank of India (RBI) on March 27, 2026 recently shared a circular (RBI/2025-26/252) directing Authorised Dealers to maintain their Net Open Position in Rupee (NOP-INR) within a limit of US$100 million at the close of each business day. The RBI issued this direction under Sections 10(4) and 11(1) of the Foreign Exchange Management Act (FEMA), 1999 (42).

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The Net Open Position (NOP) is a prescribed limit set by the Reserve Bank of India (RBI) to control the foreign exchange risk taken by authorised dealers. It shows the net exposure of a bank to fluctuations in the value of the Indian Rupee against foreign currencies.

RBI has told banks to reduce their dollar positions

Banks can now hold only up to $100 million in dollar-rupee exposure Right now many banks are holding much larger dollar positions They must cut this down by April 10 — RedboxGlobal India (@REDBOXINDIA) March 28, 2026