This will provide resident entities more flexibility and easier access to derivative products in hedging their exposure to gold prices
FinTech BizNews Service
Mumbai, February 8, 2024: With a view to providing flexibility to resident entities to hedge their exposures to gold price risk efficiently, resident entities were permitted, in December 2022, to access recognised exchanges in the International Financial Services Centre (IFSC). As per a statement of Shaktikanta Das, Governor, Reserve Bank of India, issued on February 8, 2024 after the MPC meet.: “It has now been decided to also allow them to hedge the price of gold in the over the counter (OTC) segment in the IFSC. This will provide resident entities more flexibility and easier access to derivative products in hedging their exposure to gold prices. The related instructions are being issued separately.”
