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- A Snapshot
February 7, 2000
Purpose
• To be used to hedge underlying loans or trade transactions
Participants
• Professional- Foreign & new Private sector banks and Financial
Institutions
• Corporate- large to medium companies with FX loan exposures
Products
• FX, Structured and Vanilla Cross-Currency and FCY interest rate
Options, Interest Rate Swaps, FRAs, Currency/ Coupon swaps,
Gold and Commodity derivative
6000 50
commodity derivatives (forecast)
5000 40
USD/INRSpot
INR IRS
DerivativeVolumes
(USDMillion)
01-Jan
Jan-92
Jan-93
Jan-94
Jan-95
Jan-96
Jan-97
Jan-98
Jan-99
Jan-00
Derivative Volumes
USD/INR Spot
F in a n c ia l
I n s t itu t io n s F o r e ig n
B anks
P r iv a te
February 7, 2000 B anks Mumbai
RBI Guidelines
SCRA
FEMA
Wagering act
Tax implications
No legal derivative disputes so far.