SEBI vide circular SEBI/DNPD/Cir- 52 /2010 dated January 19, 2010 has permitted currency futures on 3 more currency pairs. SEBI has now permitted stock exchanges to introduce currency futures on Euro-INR, Pound Sterling-INR and Japanese Yen-INR. Currently currency futures are permitted only on US Dollar-INR.
A copy of the circular is available here.
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Defining USPI
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