Indian rupee futures at Dubai exchange grow 18% in July

Aug 11 2014, 21:15 IST
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SummaryIndian Rupee futures grew 22 per cent from last month, while mini Indian Rupee futures rose 3 per cent at the Dubai Gold and Commodities Exchange (DGCX) during July.

Indian Rupee futures grew 22 per cent from last month, while mini Indian Rupee futures rose 3 per cent at the Dubai Gold and Commodities Exchange (DGCX) during July.

The Indian Rupee options contract which was re-introduced on July 18 traded 343 contracts.

Among other currency pairs, British Pound, Australian Dollars and Yen Futures, grew 45 per cent, 47 per cent and 7 per cent, respectively.

Trading volumes in the DGCX grew 18 per cent in July from previous month, trading 992,061 contracts, valued at USD 29.95 billion, according to a report.

DGCX Gold futures traded 39,536 contracts in July, growing 15 per cent year-on-year and 10 per cent month-on-month.

The metals segment grew 24 per cent year-on-year with silver futures witnessing year-on-year growth of over 300 per cent.

"The increased trading activity in Gold, Sensex and Indian Rupee products demonstrates the growing interest from market participants in using a diversified mix of derivative products to hedge against price exposure, Gary Anderson, CEO of DGCX said.

"We are particularly pleased by the initial response to our re-introduced Indian Rupee options contract which will complement DGCX's successful Indian product offering.

"We remain committed to the launch of new products in currency, precious metals, equity and agricultural segments, which will further expand DGCX's existing product portfolio," he added.

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