The Bombay Stock Exchange, BSE, on Wednesday launched currency derivatives segment in dollar-rupee Currency Futures.
Speaking to reporters here, BSE chief operating officer M.L. Soneji said, Exchange trading currency derivatives market will provide excellent opportunity to hedge currency risk for different participants.
In today's business environment, many entities irrespective of the nature of its business are impacted by currency risk either directly or indirectly," he added.
Currency derivatives are used mostly by small and medium enterprises engaged in international trade to hedge their risks against fluctuations in currency values.
The contracts will have a minimum size of $1,000 and then in its multiples. They will be available for trading between 9 a.m. and 5 p.m.
The BSE is the second exchange in the country to open Currency Futures trading after the NSE which started trading from August 29.
