RBI's Big Move: New Dollar Position Limit Set, Rupee Poised for Monday Jump

• RBI sets a new maximum limit of $100 million for banks' NOP-INR (Net Open Position in INR) on dollar-rupee positions.
• Banks instructed to reduce dollar positions to within this limit by April 10.
• Many banks currently hold 'long dollar positions' exceeding the new limit, forcing them to sell excess dollars.
• Increased dollar supply from forced selling is expected to strengthen the rupee and weaken the dollar.
• Experts predict a strong jump for the Indian Rupee on Monday due to this 'forced selling' action.