Query on Currency derivatives trading post 04 April 2024 in view of RBI circular dated 05 Jan 2024

As per my understanding, we can trade upto 10mil usd in one exchange or 100 mil usd combined without providing any documentary evidence of underlying exposure to currency BUT we have to ensure that we are doing it for hedging purpose…

Wow !!! You are a saint person until you get caught.

Dear sir… Since its been quite a while since the RBI order, Is there any clarity if we could trade cross currency pairs not involving INR like GBP/USD , EUR/USD etc… without any exposure and without any monetary cap such as 100million USD.