The Reserve Bank of India will extend oversight to offshore rupee derivative activity by requiring authorized dealers to report over the counter FX contracts, including deliverable and non deliverable types. The change is meant to improve price discovery and reduce volatility. Implementation will be phased, starting July 2027, giving banks time to adjust their reporting systems.
India is preparing a proposal that would require banks to report offshore rupee derivative trades, even as lenders push back against the plan, according to two sources. The move aims to boost transparency in a fast-growing offshore market that has intensified pressure on the rupee, potentially affecting how currency risks are tracked.
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