Regulators studying demand to relax FX curbs - SEBI
MUMBAI (Reuters) - India's banking and capital market regulators are assessing demands by market participants to relax restrictions on currency derivatives, chairman of Securities and Exchange Board of India (SEBI) said on Wednesday.
"Already, people have started demanding that the restrictions that have been put on currency trading should be relaxed," C.B. Bhave said without elaborating.
Bhave was speaking on the occassion of the launch of currency derivatives by the Bombay Stock Exchange (BSE), the second exchange to launch the product.
In August, National Stock Exchange launched exchange-traded rupee futures and a unit of Multi Commodity Exchange of India has plans to launch currency futures soon.
"There are certain core principles that are not capable of compromise and therefore, it should not be subject to the spirit of competition," he said.
The SEBI chief urged exchanges not to compete by giving "little bit of latitude" on margins or other things which affect the sanctity of settlement.
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