Login to Bazaar Bhaav |  | FeedBurner    Feedback
Forex Street www.commodityonline.com
Bullion Cerals Enery Metals Fibers Oil Petro Plantation Pulses Specials Others
 
  Top Gainers | Top Losers
Get Future Price
Eg: Gold, Jeera, Crude Oil
 
MCX
2652.78
NCDEX
2930.87
You are here : Home >> Currency Street >> Report
  National Stock Exchange gets nod for currency futures
  14 August 2008 09:09:27
   
  Commodity Online
MUMBAI: Currency futures trading is getting momentum in India. The country's stock market regulator SEBI on Wednesday approved the currency futures plan submitted by the National Stock Exchange.

Besides NSE,  India's largest commodities exchange the Multi Commodity Exchange and the oldest stock exchange the Bombay Stock Exchange have also applied for approvals for currency futures trading. But SEBI is yet to clear these applications.

SEBI has asked MCX to float a subsidiary to get currency futures trading license. SEBI officials said the BSE application is in the processing stage.

Currency futures is a forex derivative contract to buy or sell one currency against another on a specified future date, at a price decided in the contract.

Over the past one year, the Indian rupee has seen a rise and fall of more than 10 per cent vis--vis the US dollar. Currency futures are now seen as an effective tool, specially for small and medium-size exporters and firms, to hedge their foreign exchange risks.

Apart from actual user-banks, importers and exporters, even individuals with a view on exchange rates, will be able to trade the product.
    FOREX Reports  
  Aussie closes higher vs dollar
  The Australian dollar got a lift Friday as the country’s central bank painted a luminous outlook for the economy, suggesting interest rates and the currency were set to rise a lot further over time.
  Pak forex reserves down to $14.23 billion
  Pakistan’s foreign exchange reserves fell to $14.23 billion in the week that ended on October 31 from $14.43 billion the previous week.
  Dollar edges lower vs Euro, franc
  The US dollar edged down against the European currency and the Swiss franc during early deals on Friday.
More> 

      Top Stories

Did India sell US Treasury bills to buy IMF gold?

Commodity Trends:Gold shines so does gold guinea

Australia slaps dumping duty on Chinese aluminium

Chinese steel producers cry foul over US duty

Zimbabwe escapes diamond ban

Scrap gold sales zoom in India over IMF gold deal

Indian investors dump gold for silver

Renewable energy: A reliable source for energy

Demand for gold shares soars

Japan’s polished diamond imports fall by 7%

Chinese steel exports hit as US slaps dumping duty

Relevance of Eco Mark for Indian industry

  More >  
    Technical Calls  
  Russia may buy remaining 203 tonnes of IMF gold
  Which country will not buy the remaining gold reserve from International Monetary Fund (IMF), following India's purchase of 200 tonnes of gold last week? Bullion analysts say China is set buy the remaining 203 tonnes of IMF gold. But China is not alo
  Gold price peaks to Rs16,900 in India bullion market
  Gold prices in India continue to peak. On Satruday, gold prices spiked to a new high of Rs 16,900 per 10 gram in the bullion market. Gold dealers said strong marriage season demand amid firmimg global trends are driving gold prices in India.
  Sri Lanka shoring up gold reserves
  The Gold Price in Euros peaked on Feb. 20th above €782 an ounce. "We have been fairly strong accumulators of Gold reserves over the past few months," said Sri Lankan central bank chief Ajith Nivard Cabraal to Reuters today in an interview from Chenna
More> 
     Market Pulse
 
 
MCX cardamom spurts on higher spot demand
  Cardamom futures rose at the MCX counter Friday as the demand for the commodity in the spot market is seen firm against the lower than expected stockpiles.
 
MCX Weekly Report: Comdex moves up by 0.67%
  MCX Comdex was up by 0.67% to 2687.20. MCX Energy was down by 0.98% to 2765.22, MCX Metal was up by 1.45% to 3130.30 and MCX Agri was up by 2.78% to 2182.39.
 
MCX crude remains negative territory
  Domestic crude oil futures are trading with mild losses Friday as the impacts of the late sell of continued to linger on the market.
More> 
 
 
About Us | Advertise | Contact Us | Feedback | Disclaimer | Terms & Conditions | Sitemap