SC ruling to aid banks in forex derivatives’ defaults
fe Bureau: New Delhi/Mumbai, Dec 12 2012, 01:31 IST
currencies against the dollar resulted in mark-to-market losses on these contracts. In July 2010, the RBI issued guidelines for currency options and banned exotic derivatives. Currency options have ever since remained subdued and are still avoided by companies. “Options are becomig popular, but it is a slow process,” said P Mukherjee, head of treasury at Axis Bank.
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