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of <h1>SEBI Updates Position Limits for Currency Derivatives Amid USD-INR Volatility; New Rules Effective July 11, 2013.</h1> The circular, issued by SEBI, revises position limits for exchange-traded currency derivatives due to recent volatility in the USD-INR exchange rate. Effective from July 11, 2013, it mandates a 100% increase in initial and extreme loss margins for USD-INR contracts. Client-level position limits are set at 6% of total open interest or 10 million USD, whichever is lower. Non-bank trading members have a limit of 15% of total open interest or 50 million USD, whichever is lower. Stock exchanges must implement these changes and amend relevant regulations accordingly.
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