Forward Cover for Foreign Institutional Investors

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..... tional Investors Attention of authorised dealers is invited to Regulation 5 of Notification No.FEMA.25/RB-2000 dated May 3, 2000. In terms of paragraph 1(b) of Schedule II to the Notification, a registered Foreign Institutional Investor (FII) has been permitted to enter into a forward contract with rupee as one of the currencies with an authorised dealer in India, provided that the value of the .....

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..... tions, 2000 are being notified separately. 5. Authorised Dealers may bring the contents of this circular to the notice of their constituents concerned. 6. The directions contained in this circular have been issued under Section 10 (4) and Section 11 (1) of the Foreign Exchange Management Act, 1999 (42 of 1999). Yours faithfully, Grace Koshie Chief General Manager - Circular - Trade No .....

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