Foreign exchange exposure limits revised requiring board approved NOOP limits and prohibition on netting between exchange and OTC positions. Revised guidelines establish dual exposure limits for Authorised Dealers: a Net Overnight Open Position Limit (NOOPL) for capital charge and a NOP INR for exchange rate management. NOOPL is board set subject to a capital related cap; positions are measured per currency by aggregating net spot, forward and delta equivalent options, PV adjusted using an approved yield curve and combined by the shorthand method. Offshore exposures are calculated standalone and aggregated with onshore exposures for reporting. Exchange positions cannot be netted with OTC positions and ALCO/Internal Audit must monitor compliance and maintain audit trails.