Indian corporates turn to forex options
A precipitous fall in the value of the rupee combined with a restrictive regulatory framework for forex hedging has prompted Indian corporates to pile into the options market
Since July 2011, the Indian rupee has depreciated significantly against the US dollar and is currently trading at 55 rupees to the US dollar, representing a fall of 25% over the past 12 months. In comparison, the Korean won has depreciated by 3% while the Chinese yuan and Singapore dollar have both appreciated against the US dollar.
While external factors such as global financial instability and
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