Commodity Online
MUMBAI : In an attempt to create more participation in India’s foreign Currency Futures, Non-Resident Indians (NRIs) and Foreign Institutional Investors (FII’s) are likely to be allowed in trading, said a top SEBI official.

Speaking at the 2nd Annual India Derivatives Summit here, SEBI's Whole-time Director T C Nair said, "SEBI would allow NRIs and FIIs in foreign currency futures but not at this stage and we would wait for the market to develop before allowing NRIs and FIIs into the segment”.

At present only resident Indians are allowed to trade in currency futures to hedge their risks associated with exchange rate volatility or otherwise and membership of currency futures market has been kept separate from equity markets.

Currency Futures trading were launched in India in August after SEBI granted approval to select stock and commodity exchanges to do so.

Currently, the National Stock Exchange, Bombay Stock Exchange and Multi commodity Exchange are the three entities that offer a platform to trade in currency derivatives.