Stay abreast with the latest developments in the professional domain along with in-depth analysis through the monthly BCA Journal. Get access to an engaging library of researched publications from the BCAS stable.
Learn MoreExplore past issues of BCA Journal & indulge in a treasure trove of high-quality professional content across format of print, videos & learning events from the BCAS stable.
Learn More
Presently, Indian residents are not allowed to cancel and rebook forward contracts, involving the rupee as one of the currencies, booked by them to hedge their current and capital account transactions. However, exporters are allowed to cancel and rebook forward contracts to the extent of 25% of the contracts booked by them in a financial year for hedging their contracted export exposures.
This circular has:
1. Increased the said limit of 25% to 50% for exporters. Hence, exporters can now cancel and rebook forward contracts up to 50% of the contracts booked by them in a financial year for hedging their contracted export exposures.
2. Importers are now permitted to cancel and rebook forward contracts entered into by them to the extent of 25% of the contracts booked in a financial year for hedging their contracted import exposures.
