LeapVault initiated the Iforex Leaders Summit which took place on 28 July at the Four Seasons Hotel in Mumbai. Very aptly titled, the theme of the summit was “Managing Forex Risk in the New Normal”.

Shri G Padmanabhan, Executive Director, Reserve Bank of India in his special address at the summit, spoke about how the ‘new normal’ with respect to global financial and currency markets, necessitated corporates and financial institutions to adopt progressive and proactive long term strategies to understand and account for such risks.

Mr. Jaydeep Shah, president, ICAI in his opening address spoke of the sheer increase in the quantum and the number of corporates reporting large forex losses in recent times and emphasized the need for capability enhancement of finance professionals in India to keep up with the changing times.

Mr. A V Rajwade, in his keynote address spoke about the overall financial and fiscal situation and shared his views on the future of the Rupee.

The audience had a very interactive session on the use of derivatives to manage forex risk which was chaired by Mr. Rafel Nam from Thomson Reuters and had speakers from Axis Bank, Rosy Blue, HUL and NSE.

The session chaired by Mr. Tamal Bandyopadhyay from Mint with speakers from the Royal Bank of Scotland, JP Morgan, DBS Bank and HDFC provided insights into the key macro issues related to the Rupee and some interesting crystal ball gazing into what were the possible scenarios going ahead.

The CFOs and treasury heads in the audience witnessed an interesting session chaired by Mr. Jamal Mecklai on the future of the Euro. The session had speakers from Tata Chemicals, Essar Group, Reliance Industries,a former executive of the RBI and the Frankfurt School Of Finance.

The National Stock Exchange was the principal partner for the initiative, the Institute of Chartered Accountants of India, the Institutional Partner and the Frankfurt School Of Finance, the Strategic partner.  The research partner IndiaSpend, circulated their paper “the History of the Rupee’. The event was supported by the Indo American Chamber of Commerce, EU India Cambers and European Business group.