- Forex Guidelines India Forex Rules in India
- China tightens trading rules on forex, stock markets | Reuters
- Why is forex trading illegal in India? - Quora
In case the forex limit exceeds USD 7,55,555 or it&rsquo s equivalent for purposes of Emigration, Education and Medical treatment, additional supporting document is required. For emigration, the estimate from the country of emigration for education - estimate from the institution abroad and for Medical treatment &ndash the estimate received from the Doctor in India or Hospital/doctor abroad would be required.
Forex Guidelines India Forex Rules in India
China tightens trading rules on forex, stock markets | Reuters
Before you start trading you are required to have the requisite amount in your linked savings account as margin the margin is generally 5% of the contract value. In a few instances the bank may change this depending on market volatility.
Why is forex trading illegal in India? - Quora
Analysts see the moves as also relieving downward pressure on the yuan by encouraging companies to sell off their foreign currency.
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So now that we understand that trading in only forex derivatives is permitted by the Indian law let us get an overview about the rules and procedures that govern this trade in India. The framework for trading in derivatives has been set up by the RBI and SEBI while the legal guidelines are provided by FEMA (Foreign Exchange Management Act) provides the legal guideline for
"This contradiction casts doubt over the PBOC's intentions: whether it is serious about moving to a more flexible currency regime, or whether it has simply re-imposed a de facto peg at a different level against the US dollar."
Limit of USD 7,55,555* or it&rsquo s equivalent per financial year is applicable for the below mentioned purposes of travel:
"People were thinking about alternatives to circumvent the reserve requirement to bet on yuan depreciation after yesterday's policy was out. But it's clear now that it is impossible to do so," said a Hong Kong-based trader who saw the PBOC document on Wednesday.
(ii) As and when any AD category I bank comes across any prohibited transaction undertaken by its credit card or online banking customer the bank will immediately close the card or account of the defaulting customer and report the same to Chief General Manager-in-Charge, Forex Markets Division, Foreign Exchange Department, Reserve Bank of India, Central Office, 5th Floor, Amar Building, . Road, Mumbai – 955556 in the format provided in the Annex to this circular.