The Bombay Stock Exchange (BSE) on June 26, 2023, issued the conversion factor for converting from USD to GBP, EURO, and YEN
The conversion factor shall come into force on July 28, 2023.
The following has been stated namely: -
• This is in continuation to Exchange notice No. 20150430-20 dated April 30, 2015, & 2018040339 dated April 03, 2018, respectively informing the trading members regarding the revision of limits relating to the requirement of underlying exposure for Currency Derivatives contracts.
• It is informed that the conversion factor from July 28, 2023, shall be as follows namely: -
(i) USD to EURO - 0.92
(ii) USD to GBP - 0.80
(iii) USD to JPY - 136.58
• It states that the Entities shall ensure that the position across Exchanges is within the prescribed limit of USD 100 million equivalent. If the position is in excess of USD 100 million equivalent, clients shall provide disclosure of underlying exposure to the Trading Member as per existing practice.
• The Trading members also have to ensure that their positions remain within the limit prescribed in para 4 of Exchange notice No. 20150430-20 dated April 30, 2015.
• The conversion factor provided in Exchange notice No. 20230327-35 shall be applicable up to July 27, 2023.
[Notice No. 20230626-51]
