Ah no. I don’t think you should declare exposure on that logic. FEMA violation is not a light problem. If I were you I would have exposure only under two circumstances
I own US stocks or bonds denominated in US Dollar
I have ESOPs in US Dollar
Even then there are open questions like what will happen if these stocks fluctuate, how often will you adjust the hedge etc
Does this applies to USDINR FUTURES . As a retail traders with average holding of 500 lots. What I am suppose to do ? What is exposure means here in terms of retail trader not able to understand it
If the circular applies only to new positions, then good sense should prevail.
Existing positions must be allowed till expiry , otherwise it doesnt make any sense
I am also having big Currency position and am tracking what other brokers are doing, even Dhan is saying they will square off. It will be wise if Zerodha allows us to square off positions on our own.
This message does offer some relief. But I will need you to clarify if we can retain our open positions till their respective expiry dates. I personally have it till April-end (i.e. 26th April)
To me, it seems like all brokers basically forgot about the RBI circular from January 5, 2024.
Now when NSE reminded them on 1st April regarding it, they all woke up.
Really pathetic…