Residency requirement for currency futures restricts market access to domestic residents, with regulator permission required for supervised entities. Participation in the currency futures market is limited to persons resident in India under the Foreign Exchange Management Act, 1999, and regulated ... Summary
Residency requirement for currency futures restricts market access to domestic residents, with regulator permission required for supervised entities.
Participation in the currency futures market is limited to persons resident in India under the Foreign Exchange Management Act, 1999, and regulated entities such as scheduled banks or other agencies must obtain permission from the Reserve Bank's regulatory Departments, while other regulated entities need concurrence from their respective regulators before participating.
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