Forward contracts once cancelled cannot be rebooked;  c.  Net Overnight Open Position Limits (NOOPL) of the Authorized Dealer (AD) banks were reduced across the board; and  d.  AD banks were advised that their intra-day open position/daylight limit should not exceed the existing NOOPL approved by the Reserve Bank;  v.  Interest rate on export credit in foreign currency was deregulated;  vi.
Foreign exchange earners were asked to convert 50 per cent balances in their Exchange Earners Foreign Currency (EEFC) accounts with AD banks into rupee balances and credited to the rupee accounts.