SEBI rolls back some restrictions on currency derivatives
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The Securities and Exchange Board of India (Sebi) on Monday partially reversed curbs on dollar-rupee forward contracts that were imposed last year after the rupee hit record lows.
Sebi had doubled the margin requirement on the domestic dollar-rupee forward trades last year in a bid to arrest the steep decline of the rupee.
The regulator on Monday asked exchanges to restore the initial margins and extreme loss margin for dollar-rupee trades to pre-July 8, 2013 levels from April 15.
The regulator had also imposed restrictions on total open interest on USD-INR trades, while the central bank had banned banks from proprietary trading in domestic currency futures and the exchange-traded options market. (REUTERS)
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