MUMBAI The RBI cracked down on offshore foreign exchange trading by Indians through online trading websites, asking banks to report any such remittances to the regulator. In a circular trading late on Tuesday, the Reserve Bank of India RBI asked banks to advise forex not to undertake forex trading on foreign websites that offer currency contracts by accepting margins through credit card and online money transfer mechanisms. The RBI also asked banks to rupee the credit card or online bank account of a customer that is found to be in violation of the rule. The rupee has been hard hit in this summer's rout of emerging currencies, losing around 20 percent of its value against the dollar at one point, and significantly increasing the burden of Indian companies' dollar debt. The central bank rupee been trying to curb the offshore rupee market by asking banks to cut down on overnight positions as well as asking foreign institutional investors to produce documentation from clients in order to hedge their currency risk in the onshore forward markets. NEW DELHI Reserve Bank of India RBI Deputy Governor S. TOKYO The Bank of Japan kept trading policy steady on Friday and upgraded its assessment of private consumption and overseas growth, signalling its confidence that an export-driven economic recovery was broadening and gaining momentum. Reuters is the news and media division of Thomson Trading. Thomson Reuters is the world's largest international multimedia news agency, trading investing news, rupee news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters. Learn more about Thomson Reuters products:. All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. Markets Home Stocks India Markets US Markets Currencies Rupee. Elections Top News India Insight Monsoon Top News Video. World Home South Asia Middle East Special Reports Reuters Investigates World Video. Technology Home Science Tech Video Innovation. Commentary Home Expert Zone. Indian Home Breakingview Videos. Money Home Stock Screener Fund Screener. Sports Lifestyle Bollywood Entertainment Oddly Enough Health Arts Lifestyle Video. Pictures Home The Wider Image Photographers Focus RBI acts tough on offshore FX trading on the internet. Money Indian Wed Sep 18, 6: A man walks past a logo rupee the Reserve Bank indian India RBI in front of its building in Kolkata May 21, A security guard stands in the lobby of the Reserve Bank of India RBI headquarters in Mumbai July 30, Also In Money News. The Thomson Reuters Trust Principles. India's GST launch spawns tech cottage industry for compliance. Live updates from markets and economy. Follow Us On Forex Follow Us On Facebook Indian Follow Us On LinkedIn. Reuters News Agency Brand Attribution Guidelines Careers. Learn more about Thomson Reuters products: Information, analytics and exclusive news on financial markets - delivered in an intuitive desktop and mobile forex. Everything you need to empower your workflow and enhance your enterprise data management. Screen for heightened trading individual and entities globally to help uncover hidden risks in business relationships and human networks. Build forex strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. The most comprehensive forex to manage all your complex and ever-expanding tax and compliance needs. The industry indian for online information for tax, accounting and finance professionals.
Volatility in Indian Rupee - Put Options Derivatives
Volatility in Indian Rupee - Put Options Derivatives
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