 "RBI")
The Reserve Bank of India (RBI) on Thursday allowed non-resident Indians (NRIs) access to the exchange traded currency derivatives (ETCD) market, which would allow them to directly hedge their exposures through the exchanges, in addition of going to banks to do it on their behalf.
Currently, NRIs are permitted to hedge their rupee currency risk through over-the-counter transactions with banks.
However, NRIs have to designate a local bank for monitoring and reporting the positions of the user in the exchange as well as in the OTC segment.
“NRIs may take positions in the currency futures / exchange
Currently, NRIs are permitted to hedge their rupee currency risk through over-the-counter transactions with banks.
However, NRIs have to designate a local bank for monitoring and reporting the positions of the user in the exchange as well as in the OTC segment.
“NRIs may take positions in the currency futures / exchange
