tag:blogger.com,1999:blog-19649274.post2146300495015457578..comments2024-03-27T17:16:12.789+05:30Comments on The Leap Blog: India is losing the market for trading the Indian rupeeAjay Shahhttp://www.blogger.com/profile/03835842741008200034noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-19649274.post-72562267492326461882011-07-08T14:02:05.108+05:302011-07-08T14:02:05.108+05:30Hi,
Sorry for my ignorance, but can you clarify wh...Hi,<br />Sorry for my ignorance, but can you clarify whether cross-currency futures trading in OTC is legal as per RBI or not.<br />Circulars on 1Feb2011 and 1July2011 seems to be in conflict on this matter.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19649274.post-15005098043901597522011-07-01T13:46:42.935+05:302011-07-01T13:46:42.935+05:30We have lost the plot even when the pricing of zer...We have lost the plot even when the pricing of zero on currency derivatives was in place. <br /><br />Besides, these two markets are not so fungible except for foreign players. <br /><br />What's more, Mr Mecklai points out that a major part of the variations take place in markets in other time zones during the time when Indian markets are closed. <br /><br />You have also rightly pointed out other factors why business is going away from Indian markets (no residence-based tax framework. So I do not think the CCI's decision has or will have any impact on this megatrend. <br /><br />Rupee trading on other markets does not necessarily mean that trading in local markets is shrinking. In other words, the cake is enlarging, but our slice isn't necessarily contracting, I suspect.<br /><br />More trading of the rupee in foreign markets could be seen as another tacit form of acknowledging India's importance in the global marketplace.Rajesh Haldipurhttps://www.blogger.com/profile/05106467681956811449noreply@blogger.com