A spokesman for the financial institution didn’t instantly reply to Bloomberg’s e mail looking for remark in regards to the measurement of the publicity and the estimated loss.
India’s largest financial institution had about $5 billion of bets towards the rupee that have been impacted by the regulator’s crackdown on potential speculators, in response to folks with data of the matter, roughly 20% of the overall publicity.
State Bank of India (SBI) is estimating losses of about ₹3 billion ($32 million) from the compelled unwinding of these trades, the folks mentioned, asking to not be recognized discussing confidential particulars. The hit is seen as manageable given the financial institution has whole belongings of greater than $800 billion, they mentioned, including they anticipate the spot rupee to strengthen as SBI and others exit these positions.
A spokesman for the financial institution didn’t instantly reply to Bloomberg’s e mail looking for remark in regards to the measurement of the publicity and the estimated loss.
India has taken dramatic steps to shore up its foreign money, which has tumbled greater than 3 per cent this yr as foreigners promote the nation’s shares and rising oil costs widen its commerce hole. The Reserve Bank of India (RBI) has directed lenders to cap day by day open positions within the onshore foreign money market at $100 million by April 10.
The excellent bets involving such positions amounted to at the very least $30 billion, folks aware of the matter mentioned final month.
First Published: Apr 07 2026 | 11:18 PM IST