S&A Law Offices is a full-service law firm comprising experienced, well-recognized and accomplished professionals. S&A Law Offices aims to provide its clients (both domestic and international) with top-quality counsel and legal insights, which combines the Firm's innovative approach with comprehensive expertise across industries and a broad spectrum of modalities. Being a full-service law firm, we take pride in having the capability of providing impeccable legal solutions across various practice areas and industries and makes an endeavor to provide a 360 degree legal solution.
With registered office at Gurugram and other strategically located offices in New Delhi, Mumbai, and Bengaluru, along with associate offices across India, S&A is fully equipped to provide legal services on a pan-India basis.
Also, FPIs shall be allowed to take positions, together in EUR-INR, GBP (British Pound Sterling)-INR and JPY (Japanese Yen)-INR pairs, up to USD 5 million.
The Reserve Bank of India on March 31, 2015, loosed its noose,
bringing further liberalization by increasing the limits of
position taken by Foreign Portfolio Investors (FPIs) in the
Exchange Traded Currency Derivatives (ETCD), vide circular
RBI/2014-15/527 under the Foreign Exchange Management Act,
1999.
Presently, FPIs can take position- both long (bought) as well as
short(sold)- in foreign currency up to USD 10 million or equivalent
per exchange. Now limit is increased in USD-INR pair up to 15
million per exchange. Also, FPIs shall be allowed to take
positions, together in EUR-INR, GBP (British Pound Sterling)-INR
and JPY (Japanese Yen)-INR pairs, up to USD 5 million.
These limits shall be monitored by the exchanges and braches, if
any, shall be reported to RBI. Exchanges may also fix the limits of
the contracts in currencies other than USD, provided these limits
are within the equivalent of USD 5 million.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
