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Mumbai April 24 RBI's annual policy offers individual investors the opportunity to protect themselves from foreign exchange risks. Resident individuals can for the first time hedge their foreign exchange exposures, including anticipated exposures. The RBI will allow them "to book forward contracts without production of underlying documents up to an annual limit of $1 lakh, which can be freely cancelled or rebooked."

To allow resident Indians to access forward foreign exchange contracts and options, the RBI has set up a working group on currency futures toand suggest a suitable framework to operationalise the proposal.

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