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Reserve Bank of India raises currency derivatives limit to $100 million

There would be 12 monthly standardised futures contracts of cross-currencies

RBI, Reserve Bank of India

A woman walks past the Reserve Bank of India (RBI) head office in Mumbai | Photo: Reuters

Advait Palepu Mumbai
The Reserve Bank of India (RBI) on Monday allowed persons residing in India and foreign portfolio investors (FPIs) to take single-limit positions of up to $100 million in exchange-traded currency derivatives, without having to establish the underlying exposure. 

The central bank’s earlier guidelines allowed FPIs and Indian residents to take long or short positions in dollar-rupee derivatives up to $15 million per exchange, and take positions in the euro-rupee, pound-rupee and yen-rupee pairs up to $5 million equivalent per exchange, without having to establish the existence of the underlying exposure. 

However, the $100 million limit is the total of all transactions across

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First Published: Feb 27 2018 | 12:42 AM IST

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