India reverses curbs on USD/INR trading
Margins halved in reversal of emergency hike last year
Margins required for USD/INR derivatives contracts were halved by the Securities and Exchange Board of India (Sebi) on Monday, as part of a reversal of trading curbs imposed in July 2013 to stop sharp declines in the rupee.
The change in margin requirements will kick in on April 15, after USD/INR has settled back to trading around the 60 levels seen before the pair was hit by "extreme volatility" last summer, which saw the dollar trading at a record high of 68.80 in August.
However, despite
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