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of <h1>RBI Amends Regulations to Introduce Currency Futures for Hedging Risks Under Foreign Exchange Management Act, 1999</h1> The Reserve Bank of India issued amendments to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000, under the Foreign Exchange Management Act, 1999. These amendments, effective upon publication in the Official Gazette, introduce the concept of 'Currency Futures,' defined as standardized foreign exchange derivative contracts traded on recognized stock exchanges. The amendments allow residents in India to enter into currency futures for hedging risks, subject to conditions set by the Reserve Bank. These changes modify existing regulations to include currency futures alongside foreign exchange derivative contracts.
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