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SEBI vide circular CIR/MRD/DP/20/2014 dated June 20, 2014 inter alia prescribed the position limits in permitted currency pairs. Based on feedback received from Stock Exchanges/ Clearing Corporations and upon a review of the same, it has been decided to revise the client level position limits, per stock exchange. Currency pair - Position Limits: USD-INR -Gross open position across all contracts shall not exceed 6% of the total open interest or USD 20 million, whichever is higher. EUR-INR - Gross open position across all contracts shall not exceed 6% of the total open interest or EUR 10 million, whichever is higher. GBP-INR - Gross open position across all contracts shall not exceed 6% of the total open interest or GBP 10 million, whichever is higher. JPY-INR - Gross open position across all contracts shall not exceed 6% of the total open interest or JPY 400 million, whichever is higher. The revised position limits shall also apply to Non Resident Indians (NRIs) and Category II FPIs that are individuals, family offices, and corporates. The circular(s) SEBI/HO/MRD/DP/CIR/P/2017/63 dated June 28, 2017 and CIR/MRD/DP/20/2014 dated June 20, 2014 read with SEBI circular IMD/FPI&C/CIR/P/2019/124 dated November 05, 2019 shall stand modified to the extent mentioned above. Stock Exchanges/ Clearing Corporations may specify additional safeguards/ conditions, as deemed fit, to manage risk and to ensure orderly trading. The provisions of this circular shall come into force with immediate effect. ETC