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of <h1>New Guidelines for FPIs: Hedging Exchange Rate Risk via Voluntary Retention Route, Amendments to Forex Derivative Contracts Regulations.</h1> The circular addresses the hedging of exchange rate risk by Foreign Portfolio Investors (FPIs) using the Voluntary Retention Route (VRR). It highlights amendments to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000, and outlines operational guidelines for authorized dealers. These dealers can offer derivative contracts such as forwards, options, and swaps to FPIs with Rupee as one of the currencies. The guidelines ensure that the notional and tenor of contracts align with the exposure, prevent double hedging, and allow FPIs to cancel and rebook contracts. All related payments must be made through repatriable funds or inward remittance.
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