RBI Announces Regulatory Measures for the Foreign Exchange Market
In view of the evolving conditions and to ensure orderly functioning of the foreign exchange market, the Reserve Bank of India has today issued two circulars - A.P. (DIR Series) Circular No. 25 and A.P. (DIR Series) Circular No. 26 announcing the following regulatory measures. 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…
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