CHENNAI: Indian entities can hedge their exposure to gold price risk in overseas markets on recognised exchanges in the International Financial Services Centre (IFSC), Gujarat, Das said.
“Resident entities in India are currently not permitted to hedge their exposure to gold price risk in overseas markets.”
“With a view to providing greater flexibility to these entities to hedge the price risk of their gold exposures, resident entities will now be permitted to hedge their gold price risk on recognised exchanges in the IFSC. This measure will benefit importers/exporters of gold such as jewellers and industries which use gold as an intermediate or raw material,” Das said.
Visit news.dtnext.in to explore our interactive epaper!
Download the DT Next app for more exciting features!
Click here for iOS
Click here for Android