It needs to be appreciated that none of the measures which have been taken in the recent months have in any way restricted or constrained the abilities of corporates to manage their genuine foreign exchange exposures. All that has been done is curbing the scope available for taking speculative bets on the Rupee that resulted in enhanced volatility.
Within the overarching prerequisite of facilitating genuine hedging needs of the customers, Reserve Bank would consider further relaxations in a calibrated manner. Infact Reserve Bank has already relaxed some of the measures in July 2012 so that the genuine hedging requirements of the real sector are not affected.