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The revised guidelines have withdrawn the restrictions on open positions limits (both overnight and intra-day) of Authorised Dealers involving Rupee as one of the currencies. However, the following restrictions will continue to apply: –
i. Positions on the exchanges (both Futures and Options) cannot be netted/offset by undertaking positions in the OTC market and vice-versa. Positions initiated on the exchanges mt be liquidated /closed in the exchanges only.
ii. Position limit for the trading member bank in the exchanges for trading Currency Futures and Options will be US INR6,152 million or 15% of the outstanding open interest, whichever is lower.
