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of <h1>Residents Gain Flexibility in Hedging Overseas Investments: Cancel and Rebook 50% of Forward Contracts Under New Rules.</h1> The circular announces a liberalization in the hedging of overseas direct investments by residents. Authorized Dealer Category - I banks are informed of changes allowing residents with overseas investments in equity and loans to cancel forward contracts for hedging exchange risks. Additionally, 50% of these cancelled contracts may be rebooked. This change provides greater flexibility compared to the previous requirement that contracts be completed by delivery or rolled over. The amendments align with the Foreign Exchange Management Act regulations, and banks are instructed to inform their customers of these updates. Existing guidelines from the 2003 circular remain in effect.
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