RBI nods cooperative banks to ply in currency exchange market
RBI nods cooperative banks to ply in currency exchange market
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.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!