India’s central bank has lifted informal restrictions placed on banks for trading in the non-deliverable forward market (NDF), four bankers told Reuters on Tuesday.

The Reserve Bank of India had placed these restrictions in October to manage the volatility on the Indian rupee.. The rupee in October reached a record low of 83.29 against the dollar.

The rupee’s relative stability in recent weeks has probably made RBI comfortable with allowing banks to access NDF again, one of the bankers said.

The rupee was quoting at 82.71 to the dollar.

(Reporting by Nimesh Vora; Editing by Dhanya Ann Thoppil)

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