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RBI, Sebi go tough on currency speculators

Posted on 10 July 2013

The going will get tough for domestic bourses in the currency segment. In a coordinated clamp down on currency trading, the Reserve Bank of India on Monday barred banks from doing propriety account trades in exchange-traded currency segment, while the Securities and Exchange Board of India imposed stringent restrictions on trading positions and doubled margin requirement for traders.
Sebi has said that gross open position of clients cannot exceed 6% of the total open interest (OI), or $10 million, whichever was lower. For non-bank trading members, the limit has been fixed at 15%, or $50 million, whichever is lower. The margin requirement was raised to 8% from 4%………………………………………..Full Article: Source


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