India relaxes rules for OTC forex-derivatives trading

RBI head office, Delhi                                                        
The Reserve Bank of India (RBI) has issued guidelines for foreign hedging of commodity prices and over-the-counter (OTC) foreign exchange derivatives. Once these guidelines will become effective from Febuary 1, 2011, domestic companies with net worth of Rs. 1 billion can enter in such derivative contracts. However, companies are not not go for exotic options. Full story here and here