Hit by a stronger rupee, Infosys is in discussions with Reserve Bank of India for greater freedom in hedging its foreign exchange risks.

"We are in discussions with RBI to allow us greater freedom in hedging. Currently we are allowed to hedge up to 50 per cent of the previous year's revenues but that is not enough. If regulations allow we can hedge our net foreign exchange for the entire year. But regulations in India do not," Nilekani told newspersons on the sidelines of a conference in New Delhi.

Globally, companies could hedge up to 100 or 200 per cent of their revenues, but in India companies had constraints of hedging up to 50 per cent of previous year's revenues. He said RBI's response on the matter has been encouraging.

"As of today, we have hedged $203 million at Rs 44.60 per dollar," he said.