India reverses curbs on USD/INR trading

Reserve Bank of India in Mumbai
Reserve Bank of India
Photo: RBI

Margins required for US dollar/Indian rupee derivatives contracts were halved by the Securities and Exchange Board of India (Sebi) on Monday, as part of a reversal of trading curbs imposed in July 2013 to stop sharp declines in the rupee.

The change in margin requirements will take effect on April 15, after USD/INR has settled back to trading around the 60 levels that were seen before the pair was hit by "extreme volatility" last summer, which resulted in the dollar trading at a record high of

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