As per RBI guidelines, traders need to have exposure to the un | Zerodha

As per RBI guidelines, traders need to have exposure to the underlying currency to trade in currency derivatives on the stock exchange. Please ensure to close your open position before 05th April 2024 to be compliant with RBI rules.

Further, effective 04th April 2024, you can exit your current positions but will not be allowed to take fresh positions in currencies. If you wish to take fresh positions please submit the declaration form.

Read more: https://zerodha.com/marketintel/bulletin/375304/change-in-eligibility-to-trade-in-currency-derivatives