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RBI nods cooperative banks to ply in currency exchange market

RBI nods cooperative banks to ply in currency exchange market
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First Published: Fri, Oct 15 2010. 10 12 PM IST
Updated: Fri, Oct 15 2010. 10 12 PM IST
The Reserve Bank of India (RBI) has allowed urban cooperative banks to participate in the exchange traded currency option market as clients. Participation will be allowed only for hedging underlying forex exposure arising from customer transactions, the RBI said in a release.
Recently, the capital market regulator had allowed national stock exchange and united stock exchange to offer trading in currency options in USD/INR.
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First Published: Fri, Oct 15 2010. 10 12 PM IST