 "RBI sets limit on banks' currency futures, options trading positions")
MUMBAI (Reuters) - Net overnight rupee open position limit for Indian banks shall not include positions taken in the currency futures and options segment, the Reserve Bank of India said on Monday.
Positions taken in the futures and options markets cannot be netted or offset by undertaking positions in the over-the-counter market and vice-versa, the RBI said in a statement.
The position limit for banks for trading currency futures and options shall be $100 million or 15 percent of the outstanding open interest, whichever is lower, the central bank said.
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Banks are advised to bring down their positions to the above limits within June 30, the RBI said.
(Reporting by Shamik Paul; editing by Malini Menon)
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