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Screenshot of a breaking news alert e-mail from Q2 2017
The Reserve Bank of India (RBI) relaxed rules for foreign investors in exchange traded currency derivatives by increasing the trading limits allowed without an underlying exposure for the dollar/rupee pair to $15 million per exchange from $10 million earlier.
The RBI also said that foreign portfolio investors can take long or short positions of up to $5 million in euro/rupee, pound/rupee, Japanese yen/rupee pairs in exchange traded derivatives.
The country’s central bank also will now permit importers to hedge up to 100% of their eligible limit in the exchange traded market compared with 50%.