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Currency futures on cards

May 13, 2008

The RBI is keen to launch exchange-traded currency futures contracts in India soon. In a recent report, the central bank has advocated the launch of forex futures in domestic exchanges under the purview of markets regulator SEBI.

Already the exchanges and SEBI are reported to be working on the margining and surveillance framework for the product.

Initially dollar-rupee futures contracts will be permitted but gradually it will be extended to other currencies as well. The objective is to provide companies with a transparent and simple way of hedging their foreign exchange exposure.

Rishi Joshi


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