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of <h1>Banks to Exclude Rupee Futures/Options from NOOPL; Must Comply with $100M Limit by June 30, 2012.</h1> The circular addresses Authorized Dealer Category-I banks regarding risk management and interbank dealings, specifically focusing on the Net Overnight Open Position Limit (NOOPL). It states that positions involving the Rupee in currency futures/options on exchanges should not be included in NOOPL calculations. Additionally, positions in exchanges cannot be netted with over-the-counter market positions and must be closed within the exchanges. The position limit for trading currency futures and options is set at US$ 100 million or 15% of outstanding open interest, whichever is lower. Banks must comply with these limits by June 30, 2012, under the Foreign Exchange Management Act 1999.
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