Some 'misusing' currency derivatives rules, says RBI
Financial Express Mumbai|April 06, 2024
MOVE MAY DRY UP VOLUME IN DERIVATIVES MARKET
SACHIN KUMAR
Some 'misusing' currency derivatives rules, says RBI

RESERVE BANK OF India deputy governor Michael Patra, while reiterating the regulator's position on currency derivatives, said there was no provision for trading in currency derivatives without the existence of underlying exposure. However, given that there was no requirement for documentary evidence on the underlying hedge of up to $100 million, it could have been misused by some market participants.

"Some market participants have been misusing this to mean a relaxation in documentary evidence is tantamount to no underlying, which is not the case, and which is a violation of the law," said Patra in the post-policy media briefing.

هذه القصة مأخوذة من طبعة April 06, 2024 من Financial Express Mumbai.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة April 06, 2024 من Financial Express Mumbai.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

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