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of <h1>RBI Allows FIIs to Hedge Entire Equity Investments in Rupee Without Date Limit, Lifting 15% Restriction.</h1> The Reserve Bank of India has issued a circular to authorized dealers in foreign exchange, allowing registered Foreign Institutional Investors (FIIs) to enter into forward contracts with the rupee as one of the currencies. The previous restriction, which limited hedging to 15% of the market value of equity as of March 31, 1999, has been removed. FIIs can now hedge the entire market value of their equity investments without a cut-off date. If a hedge becomes partially or fully naked due to portfolio shrinkage, it can continue to maturity. Other instructions in Schedule II remain unchanged, and amendments to relevant regulations will be notified separately.
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