Currency futures: residents may trade standardized exchange-traded contracts to hedge foreign exchange exposure subject to reserve bank directions. The amendment adds a definition of Currency Futures as a standardised foreign exchange derivative contract traded on a recognized stock exchange, excluding forward contracts, and inserts currency futures into the scope of foreign exchange derivative contracts. It further permits persons resident in India to enter into currency futures on recognized stock exchanges to hedge exposures or otherwise, subject to terms and conditions specified in directions issued by the Reserve Bank of India.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Currency futures: residents may trade standardized exchange-traded contracts to hedge foreign exchange exposure subject to reserve bank directions.
The amendment adds a definition of Currency Futures as a standardised foreign exchange derivative contract traded on a recognized stock exchange, excluding forward contracts, and inserts currency futures into the scope of foreign exchange derivative contracts. It further permits persons resident in India to enter into currency futures on recognized stock exchanges to hedge exposures or otherwise, subject to terms and conditions specified in directions issued by the Reserve Bank of India.
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