|
You are here : Home >> Currency Street >> Report |
|
|
| |
National Stock Exchange gets nod for currency futures |
| |
|
|
| |
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. |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
| |
All bullion contracts showed negative trend. Gold December 09 contract went down by 1.80% to Rs 14408 per 10 grams. Gold M July 09 contract shrank by 1.51% at Rs 14452 per 10 grams. Gold guinea July 09 contract went down by 0.71% to Rs 11467 per 8 gr |
 |
| |
|
| |
Hourly update on prices of key gold and silver futures on Multi Commodity Exchange of India. Change compared with previous end. |
|
| |
|
| |
Gold priced remained firm in the Mid London trade thanks to the closure of US equity markets despite the strength in the dollar. However, the domestic counter was seen down. |
|
|
More> |
|
|
|
|
|
| 
FeedBurner
