<h1>Foreign exchange hedging restrictions: cancellation of forward contracts barred and deliverable-only hedges tightened for importers and dealers.</h1> Forward contracts booked by residents and by Foreign Institutional Investors, once cancelled, cannot be rebooked though rollovers remain permitted; past-performance hedging for importers is reduced to 25 percent of the computed limit and all such contracts must be fully deliverable with exchange gains on cancellations not passed to customers. Cash/tom/spot client transactions must be for actual remittance/delivery only and cannot be cancelled or cash-settled. Authorised Dealers face reduced Net Overnight Open Position limits and intra-day positions must not exceed approved NOOPL, with ongoing Reserve Bank review.