RBI announces regulatory measure to strengthen forex market discipline and ensure appropriate risk management
Mumbai, Oct. 12 -- The Reserve Bank of India (RBI) stated in a latest update on weekend that inn view of the evolving conditions and to ensure orderly functioning of the foreign exchange market, the central bank has today issued two circulars announcing a slew of regulatory measures to support the Indian Rupee. These measures are as follows:
Restrictions on rebooking of cancelled foreign exchange derivative contracts: Authorised Dealers shall not permit users to rebook any foreign exchange derivative contract involving INR, whether deliverable or non-deliverable, which has been cancelled with any Authorised Dealer after the issuance of the Directions. Rollover of foreign exchange derivative contracts on maturity shall continue to be perm...
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