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MARKETS LIVE BLOG:

STOCKS RISE, LED BY STELLAR ALPHABET, MICROSOFT RESULTS

Chevron, Exxon under pressure as falling natural gas prices hit earnings

RBI widens options for rate futures

Reuters
A police officer stands guard in front of the Reserve Bank of India (RBI) head office in Mumbai, August 9, 2016. REUTERS/Danish Siddiqui/Files

MUMBAI (Reuters) - The Reserve Bank of India (RBI) relaxed guidelines on what domestic interest rate futures can be offered on Friday, allowing banks to hedge their short-term interest rate exposure.

Until now, banks could not hedge their interest rate risk on active government bond benchmarks other than 91-day treasury bills.

Registered exchanges can select the underlying instrument or interest rate of new contracts, subject to RBI approval, the central bank said in a circular.

For full statement see: http://bit.ly/2e4psT7

(Reporting by Suvashree Dey Choudhury; Editing by Toby Chopra)