Mumbai, Nov. 5 -- The Securities and Exchange Board of India (Sebi) has implemented a uniform $5 million limit on outstanding positions in rupee-related currency derivatives that domestic clients and foreign portfolio investors (FPIs) can hold across currency pairs and stock exchanges without establishing an underlying exposure.

In a circular issued on Thursday, the market regulator revised the existing provisions governing positions in currency derivatives, aligning them with the Reserve Bank of India's (RBI) revised thresholds announced on 10 October. The move brings all rupee-related currency pairs under a single aggregate limit, rather than treating positions in individual contracts separately. RBI had previously set the limit for ru...