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of <h1>RBI Updates Foreign Exchange Regulations: Adds American Depository Receipts, Omits Risk Strategies, Introduces New Hedging Options</h1> The Reserve Bank of India issued amendments to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000. These amendments, effective retroactively, include the insertion of 'American Depository Receipts' alongside 'Global Depository Receipts' in Schedule I, effective from May 3, 2000. Additionally, specific provisions related to cost-effective risk reduction strategies have been omitted, effective from February 1, 2011. A new provision allows residents in India to enter into certain cross-currency and foreign currency-rupee option cost reduction structures with authorized dealers to hedge exchange risks, effective from the same date. These changes are not expected to adversely affect any person.
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