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印度央行收紧卢比非交割合约规则 扩大20%现金准备金要求India's central bank tightens rules on rupee non-deliverable contracts, widens 20% cash reserve requirement

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印度储备银行(RBI)标志,人们在背景中站立,印度孟买,2026年8月5日,货币政策审议后新闻发布会前。

Item 1 of 2 A Reserve Bank of India (RBI) logo as people stand in the background, ahead of a press conference, after a monetary policy review in Mumbai, India, August 5, 2026.

10月12日 - 印度储备银行周一收紧卢比非交割衍生品合约规则,将海外客户仅限用于对冲,并将20%的现金准备金要求扩大至银行自身的卢比货币对冲。

Oct 12 - The Reserve Bank of India on Monday tightened rules on rupee non-deliverable derivative contracts, limiting overseas clients to using them only for hedging, and widened a 20% cash reserve requirement to banks' own rupee currency hedges.

此举是自周六以来央行宣布的一系列旨在支撑卢比的最新措施,卢比因油价高企和资本外流而持续下跌。在印度国际金融服务中心设有分行的银行及一些一级交易商,此前可向非居民用户提供卢比非交割衍生品用于任何目的,如今仅可用于对冲,印度储备银行周一表示。获授权经销商还需为涉及卢比的外汇衍生品合约维持外汇风险准备金,用于对冲其自身资产和负债的货币风险。

该准备金适用于所有获授权经销商以卢比买入外币的卢比货币合约,金额等于每份合约名义金额卢比等值的20%。准备金须以现金形式每日存入印度储备银行,并持有至合约结束。非交割衍生品合约通常以美元现金结算,卢比不发生实际交换。印度储备银行周一早些时候报道称,银行曾要求其取消用于对冲经常账户敞口的外汇衍生品的20%现金存款,改为收取固定费用。卢比今年已跌超6%,周一在央行周末公告后上涨1%。

The move is the latest in a slew of measures announced by the central bank since Saturday aimed at supporting the rupee, which has been falling due to steep oil prices and capital outflows Banks with units in India's International Financial Services Centre and some primary dealers, which until now could offer non-deliverable rupee derivatives to non-resident users for any purpose, can now offer them only for hedging, the RBI said Monday Authorised dealers will also be required to maintain a foreign exchange risk reserve for foreign exchange derivative contracts involving the rupee undertaken to hedge the currency risk of their own assets and liabilities The reserve applies to all rupee currency contracts in which the authorised dealer buys foreign currency against the rupee, and equals 20% of the rupee equivalent of the notional amount of each contract The reserve must be deposited in cash with the RBI daily and kept until the contract ends Non-deliverable derivative contracts are settled in cash, usually in dollars, without any rupees changing hands reported earlier on Monday that banks have asked the RBI to scrap the 20% cash deposit for FX derivatives used to hedge current-account exposures and charge a flat fee instead The rupee, which had fallen more than 6% this year, jumped 1% on Monday after RBI's weekend announcements