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Business EconomyPosted at: Mar 31 2015 11:02PM


RBI relaxes norms Domestic Participants and FPIs in ETCD markets

New Delhi, Mar 31 (UNI) The Reserve Bank of India (RBI) today increased the limit of hedging positions in exchange traded currency derivatives (ETCD) markets to 100 per cent from 50 per cent for domestic importers of goods and services. The limit for domestic entities and Foreign Portfolio Investments (FPIs) to take foreign currency positions in the USD-INR pair on ETCD market without having to establish the existence of any underlying exposure has been increased to 15 million dollars per exchange, the RBI said in a statement. In addition, there will be an aggregate limit of 5 million dollars equivalent per exchange for EUR-INR, GBP-INR and JPY-INR pairs. Documentation and other administrative requirements for hedging on the ETCD markets have also been rationalised, it added. Based on the experience, the RBI will decide on participation of Non-Resident Indian (NRIs) in the ETCD markets in future. UNI ASH SY AN2226
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Tags: #RBI relaxes norms Domestic Participants and FPIs in ETCD markets
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