SEBI hints at international access to India’s FX market

India’s top regulator has indicated international participants may be allowed access to the country’s nascent FX futures market under the existing Foreign Institutional Investor scheme.

The Securities and Exchange Board of India has confirmed comments made by its director, TC Nair, that FIIs and Non-Resident Indians will be permitted to participate in FX futures – but only when the regulator is satisfied the market is sufficiently mature.

“SEBI will allow NRIs and FIIs in foreign currency futures but… we would wait for the market to develop before...