Don’t be damned by the dollar

Ajay Shah
Posted: Monday, Oct 13, 2008 at 0210 hrs IST
Updated: Monday, Oct 13, 2008 at 0210 hrs IST

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IMF to expand crisis lending fund Inflation challenging economy: Gokarn Rupee down 10 paise at 46.57 a dollar

: the month of September. On 1 September, at 3:30 PM, 20,000 contracts or $20 million had been traded. By 7 October, this much trading was done by 10:15 AM.

In summary, the rise of currency futures is a major development in Indian finance. This is a key building block of the Bond-Currency-Derivatives Nexus, and the breaking down of the silo system, which was proposed by the Percy Mistry and Raghuram Rajan committees. In a time of enhanced currency volatility, this market will play an important role in helping households and firms cope with currency risk.

—The author is an economist, with interests in finance, pensions and macroeconomics...

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