Forex Trading

23/02/2011 07:28


Indian residents cannot trade in foreign exchange in domestic or overseas markets, under the Foreign Exchange Management Act (FEMA), clarified the RBI. The RBI also clarified that remittance in any form towards overseas foreign exchange trading through electronic or Internet trading is not permitted under the FEMA.


Residents are, however, permitted to trade in currency futures and options contracts, traded on the stock exchanges recognised by the SEBI, subject to the conditions specified by the RBI.