India to allow exchange-traded FX futures
A panel made up of officials from the Reserve Bank of India and the Securities and Exchange Board of India said on May 29 that trade, initially in USD/INR futures, should be limited to Indian market hours.
The panel indicated on June 4 that it expected the market to be trading in three months. However, initially, foreign institutional investors and non-resident Indians will not be permitted to participate in the market.
The panel reported: "While some flexibility in FX markets and exchange rate
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