The Reserve Bank of India (RBI) on March 27, 2026, issued the NOP-INR position of Authorised Dealers.
The Reserve Bank of India has revised guidelines under the Master Direction on Risk Management and Inter-Bank Dealings (July 5, 2016).
• Authorised Dealers (ADs) must now maintain their Net Open Position in INR (NOP-INR) in the onshore deliverable market within a limit of USD 100 million at the end of each business day.
• This measure is aimed at exchange rate management and controlling market exposure.
• ADs must comply as soon as possible, but no later than April 10, 2026.
The directions are issued under provisions of Foreign Exchange Management Act, 1999 and apply alongside any other required legal approvals.
[Circular No. RBI/2025-26/252 A.P. (DIR Series) Circular No. 24]
