Resident
individuals, firms and companies, who have actual or anticipated foreign
exchange exposures, can book foreign exchange forward and FCY-INR options
contracts up to USD 1,000,000 (USD one million) without any documentation on
the basis of a simple declaration. While such contracts would normally be on a
deliverable basis, cancellation and rebooking are permitted.
The existing facilities for
Small and Medium Enterprises (SMEs) shall remain unchanged.
Based on RBI Circular dt 08/10/15.
Please visit www.rbi.org.in for any
further clarification if required…..Poppy
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