India to trade rupee futures

Central bank officials have released a consultation paper saying growing cross-border flows are increasing market risk, making hedging of such exposure "critical". Foreign direct investment into India rose from $7.7 billion in 2006 to $19.5 billion in 2007, according to RBI's most recent annual report. Foreign currency reserves were recorded as $199 billion at the end of March 2007, with estimates now placing that balance at more than $240 billion.

The regulatory structure in India enables

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