Revision of limits relating to requirement of underlying exposure for currency derivatives contracts

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....io Investors (FPIs) through their DDPs. Dear Sir / Madam, Sub: Revision of limits relating to requirement of underlying exposure for currency derivatives contracts This is further to SEBI circular no. CIR/MRD/DP/20/2014 dated June 20, 2014, wherein, limits were specified for the USD-INR, EUR-INR, GBP-INR and JPY-INR currency derivatives contracts beyond which market participants were required t....

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....; (ii) EUR-INR, GBP-INR and JPY-INR currency pairs (all put together) : USD 5 million. (b) FPIs shall ensure that their short positions at a stock exchange across all contracts in USD-INR pair do not exceed USD 15 million and do not exceed USD 5 million in EUR-INR, GBP-INR and JPY-INR pairs, all put together. (c) In the event a FPI breaches the short position limit, stock exchanges shall res....

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....all put together) : USD 5 million. (b) Domestic clients may take positions in excess of USD 15 million in USD-INR pair and in excess of USD 5 million in EUR-INR, GBP-INR and JPY-INR pairs, all put together, subject to the conditions specified in the RBI A.P. (DIR Series) Circular no. 147 dated June 20, 2014 and RBI A.P. (DIR Series) Circular no. 90 dated March 31, 2015. 3.3. Stock exchanges, un....

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....n their website; (c) communicate to SEBI the status of implementation of the provisions of this circular. 6. This circular is being issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. Yours faithfully, Man....