Regulatory Alerts2025-01-26
Added
Forward sale and purchase in foreign exchange
Authorized Dealers (ADs) may apply a forward premium not exceeding the policy rates of respective currencies as in effect on the banking day immediately before the first day of the deal period. This premium applies to declared spot rates for both forward sales and purchases, with adjustments required for early settlement based on actual tenure. FE Circular No. 16 dated September 24, 2023 and FE Circular Letter No. 12 dated September 26, 2023 are repealed. The instructions are effective immediately, and non-compliance is subject to punitive actions including financial penalties.
Topics
fx
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