Capital market regulator, Securities and Exchange Board of India (Sebi), is looking at easing restrictions in currency futures trading, Sebi Chairman, C.B. Bhave said today.
"Today, the currency futures trade is dominated by rupee-dollar. There are a lot of restrictions in terms of who can participate and the extent to which they can participate. We are looking at easing these restrictions," Bhave said on the sidelines of a conference at securities market here.
Asked whether more currency futures would be introduced, Bhave said that there was a joint RBI-Sebi committee in place which was looking at whether this market needed to be expanded.
He added that the committee was looking at whether this market needed to be expanded.
"First, we are looking at these issues rather than expanding to different currencies," he said. "Our understanding is that even in forward markets permitted today, the trade is dominated by rupee-dollar."