Eric Hasham, chief executive officer of DGCX, said, "The consecutive records in the Indian Rupee
futures contract and the excellent overall growth of DGCX currency futures reflects the strength of the Exchange's currency derivatives offering.
The first of its kind to be introduced in the region and outside of India, the mini contract is one-tenth the size of the existing DGCX Indian Rupee
Our key contracts like Indian Rupee
futures and Gold futures are attracting a growing global diversity of participants.
The revised Indian rupee
futures contract will be available for trading from Nov.
The bank, which is bearish on Turkish Lira, Indonesian Rupiah, South African Rand and the Indian Rupee
, said that emerging market currencies are likely to remain under pressure, though depreciation is expected to slow.
Mumbai/New Delhi: The Indian rupee
hit a record low and posted its biggest percentage fall in 18 years yesterday after parliament's approval of a $20 billion plan to provide cheap grain to the poor renewed doubts about government resolve to control spending ahead of elections due next year.
The first-of-its-kind to be introduced in the region and outside of India, the mini contract is one-tenth the size of the existing DGCX Indian Rupee
futures contract, a statement from the Exchange said.
Commenting on the steep fall in the value of Indian Rupee
, the country's central Bank - Reserve Bank of India (RBI) in an official statement said that it would do its "best possible to curb volatility".
Currently Asia's worst-performing currency and the third-worst globally, the Indian rupee
fell to a record low of 54.
It is expected to give its nod to the numerical representation for the Indian rupee
that could be the Hindi alphabet R with two lines.
Futures, which recorded the 3rd highest Average Daily Open Interest during the month of December, grew 21 per cent from the same period last year while the Mini Indian Rupee
Future grew 69 per cent.
DGCX's currency segment grew 31% year-on-year, accounting for 93% of total volume with 978,169 contracts traded, with both the Indian Rupee
Futures and mini Indian Rupee
futures contracts performing well.