To ease trading requirements in the currency derivatives segment, the Securities and Exchange Board of India (Sebi) on Wednesday said position limit linked to open interest will be applicable at the time of opening a position. Such positions will not be required to be unwound in the event of a drop of total open interest in a currency pair at the stock exchange, the Securities and Exchange Board of India ( Sebi) said in acircular. However, in such scenario, the eligible market participants will not be allowed to increase their existing positions or create new positions in the currency pair till they comply with the applicable position limits. In view of risk management or surveillance concerns with regard to such positions of the market participants, Sebi said stock exchanges may direct the market participants to bring down their positions to comply with the applicable position limits within the time period prescribed by the bourse. Currency derivatives are Future and Options c