The dollar's prices decreased in the annual non-deliverable forward contracts
as well by about 18 piasters, recording EGP 9.
New rules for the country's private pension funds would limit non-deliverable forward contracts
, central bank general manager Renzo Rossini said.
One-year non-deliverable forward contracts
traded in Hong Kong continued to express expectations for future yuan depreciation, with quotes at 6.
The service will launch for both client and clearing member trades in the second quarter of 2012, subject to regulatory approvals, and will initially clear Non-Deliverable Forward contracts
in Brazilian Real, Korean Won, Chinese Yuan, Indian Rupee, Indonesian Rupiah, Chilean Peso and Russian Ruble.
The Egyptian pound could be devalued by as much as 16 percent, foreshadowed by non-deliverable forward contracts
, which provide insight into investor expectations.
With less than a year, regulators are still debating how to treat non-deliverable forward contracts
(NDFs) and specific active management of currency risks - FX overlay.
The one-month offshore non-deliverable forward contracts
were at 53.
Local authorities have been concerned about systemic risks posed by rapid foreign capital flows in and out of domestic markets, and are particularly concerned about the recent hike in the market for non-deliverable forward contracts