Foreign investors barred from interest rate futures exposure
With foreign investors' exposure to the government debt reaching over 97 per cent of the permitted limit of $25 billion, they have been asked not to take any fresh investment position in the interest rate futures market.
In separate circulars issued on Thursday morning, the National Stock Exchange and BSE said the total foreign investments in government debt securities (through the auction route) had reached Rs 1,21,224 crore.
This is 97 per cent of the permitted limit of $25 billion (Rs 124,432 crore, the exchanges said, citing data from National Securities Depository Limited.
The foreign investments include those of FIIs (foreign institutional investors), FPIs (foreign portfolio investors) and QFIs (qualified foreign investors).
The position limits of these in exchange-traded interest rate futures (IRFs) are monitored by the exchanges on the direction of the Securities and Exchange Board of India.
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