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of <h1>RBI Issues Guidelines for Trading USD-INR Currency Futures on Indian Stock Exchanges; Regulated by RBI and SEBI.</h1> The circular issued by the Reserve Bank of India (RBI) outlines guidelines for trading currency futures in recognized stock exchanges in India. It permits residents to engage in currency futures, specifically USD-INR contracts, to manage foreign exchange risk. These futures are standardized contracts traded on exchanges, with specific features such as a contract size of USD 1000 and a maturity of up to 12 months. The RBI and the Securities and Exchange Board of India (SEBI) will regulate the market, ensuring compliance with risk management measures, participant eligibility, and position limits. Only authorized banks and entities meeting certain criteria can trade or clear these contracts.
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