The National Stock Exchange of India Limited (NSE) on March 22, 2024, issued a circular regarding revised ratios for Conversion of USDINR 1 million equivalent.
The following has been stated: -
•This has reference to Exchange circular no(s). NSE/SURV/29575 and NSE/SURV/37410 dated April 29, 2015, and April 03, 2018, respectively regarding the revision of limits relating to the requirement of underlying exposure in the Currency Derivatives segment.
•The entities have to ensure that their positions remain within the limit prescribed in para 5 of Exchange circular no NSE/SURV/29575 dated April 29, 2015.
•The ratios shall be applicable from April 27, 2024, onwards. The conversion factor as provided in Exchange circular no. NSE/SURV/59921 dated December 26, 2023, shall continue to be applicable till April 26, 2024.
•The revised ratio for conversion of USD 1 million equivalent is given in the document attached below.
[Circular Ref. No: 270/2024]
