The Indian rupee has stayed mostly flat through the day as gains from mild weakness in dollar was offset by soaring international oil prices and lackluster cues from domestic equity indices. INR is quoting at Rs 83.44 per dollar, marginally lower on the day. Meanwhile, the National Stock Exchange (NSE) and BSE issued circulars to brokerages on April 1 to ensure that their clients trading in currency derivatives are in line with the Reserve Bank of India's directives, which will come into effect from April 5. According to the central bank notification dated Jan 05, 2024, RBI would allow exchanges to offer forex derivative contracts involving the INR only for contracted exposure or hedging, compared to the current allowance of up to $100 million without any explicit underlying exposure. For exchange traded foreign exchange derivative contracts involving INR, recognized stock exchange shall ensure that the user is allowed to take positions (long or short), without having to establish ... Read The Rest at :