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TMI BlogRevision of limits relating to requirement of underlying exposure for currency derivatives contractsX X X X Extracts X X X X X X X X Extracts X X X X ..... Ps) through Depositories, All Custodians of Securities, All Foreign Portfolio Investors (FPIs) through their DDPs. Dear Sir / Madam, Sub: Revision of limits relating to requirement of underlying exposure for currency derivatives contracts This is further to SEBI circular no. CIR/MRD/DP/20/2014 dated June 20, 2014, wherein, limits were specified for the USD-INR, EUR-INR, GBP-I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to establish the existence of any underlying exposure: (i) USD-INR currency pair : USD 15 million; (ii) EUR-INR, GBP-INR and JPY-INR currency pairs (all put together) : USD 5 million. (b) FPIs shall ensure that their short positions at a stock exchange across all contracts in USD-INR pair do not exceed USD 15 million and do not exceed USD 5 million in EUR-INR, GBP-INR and JPY-INR pairs, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g exposure: (i) USD-INR currency pair: USD 15 million; (ii) EUR-INR, GBP-INR and JPY-INR currency pairs (all put together) : USD 5 million. (b) Domestic clients may take positions in excess of USD 15 million in USD-INR pair and in excess of USD 5 million in EUR-INR, GBP-INR and JPY-INR pairs, all put together, subject to the conditions specified in the RBI A.P. (DIR Series) Circular no. 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bring the provisions of this circular to the notice of the stock brokers /clearing members and also disseminate the same on their website; (c) communicate to SEBI the status of implementation of the provisions of this circular. 6. This circular is being issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 to protect the interests ..... X X X X Extracts X X X X X X X X Extracts X X X X
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