$18 billion gone in a week because RBI wanted to defend the rupee and keep inflation in check.
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The rupee is still weakening against the US dollar, but at its slowest pace in history over the past two years.
My politically opinionated father asked me worriedly, “Why has the INR depreciated since the current government took over?” I first said, “Go back a little farther, and you will see that the INR has been depreciating, irrespective of who was running the government.” But is that a bad thing? The words “depreciating” or “falling” INR […]
The RBI requires anyone trading in currency derivatives to have an underlying exposure to forex. It seems many market participants were not aware of this. So, the RBI recently reinforced this requirement through a recent circular. The deadline to ensure that users participating in currency derivatives have an underlying exposure was set at 05 April […]
Through a recent circular, the RBI pulled the plug on speculative forex derivative trades in India. Until now, any speculator could trade currency derivatives on a stock exchange. This is because disclosing an underlying exposure was not required up to a certain limit. Therefore, currency derivative volumes on the NSE were booming. The prices and […]
Dear Traders, Margin required for trading currency futures and options on NSE and MCX-SX would be increased because of the recent volatility in the currency derivative contracts. The increase in margins is presently applicable only for the USD/INR contracts and is applicable from July 11, 2013. To ensure that this increase in margin doesn’t affect our […]
