19.12.2011 - India tightens rules on trading in currency forwards after rupees plunges
India’s central bank curbed trading in rupee forwards, seeking to temper speculation after Asia’s worst-performing currency fell to a record low. Forward contracts once canceled cannot be bought again, the Reserve Bank of India said in a statement on its website yesterday. The new rule applies to domestic as well as foreign investors and takes effect immediately. Forwards are agreements to buy or sell assets at a set price and date...............................................Full Article: Source
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