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RBI plans to relax hedging norms for importers, exporters

By Religare
|

G Padmanabhan, RBI Executive Director has said that the central bank plans to allow exporters and importers to rebook and cancel up to 50 per cent of their total hedged exposure from the present cap of 25 per cent.

Earlier in July, RBI had allowed only exporters to cancel and rebook forward contracts up to 25 per cent of hedged exposure.

In the annual conference of the Foreign Exchange Dealers' Association of India taking place in Singapore this weekend, Padmanabhan said, "We have decided in principle to relax a few things that we hope will cheer the market."

 

"These facilitations have nothing whatsoever to do with RBI's perception about the exchange rate," he also said.

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Story first published: Friday, May 24, 2013, 23:33 [IST]
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