https://www.taxtmi.com/circulars?id=71919 Currency derivative positions involving the Indian rupee may be taken by domestic clients and foreign portfolio investors without establishing underlying exposure up to a single outstanding notional limit of USD 5 million equivalent, combined across all rupee currency pairs and recognised stock exchanges. Foreign portfolio investors must also keep their short positions across all foreign currency-rupee contracts and exchanges within USD 5 million. Their long positions above that threshold require underlying exposure to Indian debt or equity securities, including units of equity or debt mutual funds. Domestic clients taking positions above the threshold are subject to applicable Reserve Bank of India risk-management requirements. en-us Thu, 05 Nov 2026 00:00:00 +0530 Thu, 05 Nov 2026 16:52:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=71919 Currency derivative positions involving the Indian rupee may be taken by domestic clients and foreign portfolio investors without establishing underlying exposure up to a single outstanding notional limit of USD 5 million equivalent, combined across all rupee currency pairs and recognised stock exchanges. Foreign portfolio investors must also keep their short positions across all foreign currency-rupee contracts and exchanges within USD 5 million. Their long positions above that threshold require underlying exposure to Indian debt or equity securities, including units of equity or debt mutual funds. Domestic clients taking positions above the threshold are subject to applicable Reserve Bank of India risk-management requirements. Circulars SEBI Thu, 05 Nov 2026 00:00:00 +0530 https://www.taxtmi.com/circulars?id=71919