currency futures

Currency Futures

A futures contract in which the underlying asset is a currency. Two parties agree to buy and sell a certain currency at a given exchange rate with respect to another currency at some point in the future. The market for currency futures contracts is important in estimating the future value of different currencies.
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currency futures

A contract for the future delivery of a specified amount of a major currency. Currency futures were developed in response to the substantial volatility of currency trading rates that occurred following the 1971 shift from fixed to flexible currency exchange rates.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
Total commodity and currency futures transactions had an underlying value of $10.86 billion (Dh39.89 billion) in November, the second highest monthly value achieved since inception in November 2005.
The expansion of the region's currency markets is underlined by an 88 per cent growth in DGCX currency futures transactions, comprising euro/dollar, sterling/dollar, yen/dollar and Indian rupee/dollar futures, Day added.
Brazilian bourse BM&FBOVESPA will launch on 15 August eight new currency futures contracts - two mini contracts and six contracts for currencies that are new for the exchange.
Three DGCX currency futures contracts set daily volume records on October 19, contributing to what is set to be one of the most active months of trading for the Dubai Gold & Commodities Exchange (DGCX).
August 7, 2009, saw the highest daily volume ever for all currency futures at 7,655 contracts, valued at $583.86 million.
The total volume of currency futures rose by 85 per cent year-on-year to 27,963 contracts.
DGCX currency futures continued to be the mainstay of growth accounting for approximately 70 per cent of total monthly volumes.
Total commodity and currency futures transactions on DGCX had an underlying value of $10.86 billion in November, the second highest monthly value achieved since inception in November 2005.
Dubai: Currency futures continued to drive volume on Dubai Gold and Commodities Exchange (DGCX) in August, leading to a 44 per cent year-on-year growth with transactions at 151,699 contracts, a statement said.