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        FEMA

        Para 4 - Features of currency futures

        Currency Futures (Reserve Bank) Directions, 2008

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        Currency futures rules limit trading to USD-INR contracts with fixed size, INR settlement, limited maturities and RBI reference rate. Standardized currency futures are limited to USD-INR contracts with a fixed contract size, quoted and settled in Indian Rupees, carrying a maximum maturity of one year and with final settlement price determined by the Reserve Bank's Reference Rate on the last trading day.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Currency futures rules limit trading to USD-INR contracts with fixed size, INR settlement, limited maturities and RBI reference rate.

                                Standardized currency futures are limited to USD-INR contracts with a fixed contract size, quoted and settled in Indian Rupees, carrying a maximum maturity of one year and with final settlement price determined by the Reserve Bank's Reference Rate on the last trading day.


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