Mumbai: The rupee fall will not dent the treasury profit of public sector banks (PSBs) as most of them do not hold long open positions, bank officials said today. "Most PSBs take near square position as per the advise of the central bank. We hardly have open position beyond a short-term period. So, there will be no adverse impact of the rupee depreciation on the treasury profit of the public sector banks," IDBI Bank Treasury Head N S Venkatesh told PTI here. There is no place for speculation in the currency by taking forward position by the banks and it is just arbitrage, he said. The rupee has depreciated by around 18 per cent since January in wake up the eurozone crisis, structural issues seen in the economy and general bearish sentiment in the market. An Indian Overseas Bank (IOB) official said the lender has less unhedged exposure to have adverse impact on the treasury profit. "As far as Indian Overseas Bank is concerned, we do have less unhedged exposure to see any negative impact on profitability," IOB GM (Treasury) T Srinivas said, adding most of the fluctuations would be taken care up by natural hedge. However, some bank officials said it is early to judge whether there would be any impact or not. "It depends how much open positions you have and whether those are on favorable side or not to gauge that whether their will be any impact or not," Corporation Bank Executive Director Aswani Kumar said. While a depreciating rupee will be favorable for export side, it will have negative impact on imports, he added.