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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>FPIs Allowed in Currency Derivatives Market for Hedging; USD 10M Limit Without Exposure Proof.</h1> The circular addresses the participation of Foreign Portfolio Investors (FPIs) in the Exchange Traded Currency Derivatives (ETCD) market. FPIs are now permitted to engage in currency futures and exchange traded currency options for hedging against currency risks related to their Indian securities exposure. They can take positions up to USD 10 million per exchange without proving underlying exposure, but short positions beyond this require proof of exposure. Exchanges may impose additional restrictions, and custodian banks must monitor and report any transgressions. Amendments to relevant regulations and directions have been issued under the Foreign Exchange Management Act and the Reserve Bank of India Act.
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