Economics · Foreign Exchange Market Regulations
Consider the following statements regarding the regulatory restrictions maintained by the Reserve Bank of India in the forex derivative market: 1. The ongoing $100 million cap on net open positions is specifically applicable to the onshore deliverable market. 2. Authorised Dealers are prohibited from undertaking INR-based foreign exchange derivative contracts with related parties, without any exceptions for the rollover of existing contracts. 3. The definition of 'related parties' used for enforcing these forex derivative restrictions is aligned with the Indian Accounting Standard (Ind AS 24) and the International Accounting Standard (IAS 24). Which of the statements given above is/are correct?
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1 and 3 only
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