Rupee futures contract at new daily high

The Dubai Gold & Commodities Exchange (DGCX) on Sunday announced that trading in Indian Rupee/Dollar futures crossed the 5,000 contracts mark on October 8, 2010, reaching an all-time daily high of 5,201 contracts, valued at $234.08 million. The new daily volume record surpassed the previous peak of 4,724 contracts, valued at  $212.16 m, set on October 7, 2010. The daily high follows the DGCX Indian Rupee futures’ fourth straight monthly volume record of 69,917 contracts set in September 2010. Year-to-date volume for Indian Rupee futures reached 192,628 contracts at the end of September, a growth of 195 per cent on last year.

“The outstanding run of DGCX Indian Rupee/Dollar futures YTD demonstrates the growing demand for trading the contract among our membership base.  Apart from the fact that it provides an ideal financial tool to manage price risk in the Indian Rupee, the product’s performance has been driven by its improved liquidity, low cost trading and easy access to DGCX markets,” said Eric Hasham, Chief Executive Officer, DGCX.

DGCX is the region’s first derivatives exchange and the only one allowing participants to clear and settle transactions within the Gulf region. DGCX,  a Dubai Multi Commodities Centre (Dubai Government) initiative in partnership with Financial Technologies (India) and Multi Commodity Exchange of India Limited (MCX),  is an electronic commodity and currency derivatives exchange with 230 members from across the globe, offering futures and options contracts covering the precious metals, energy and currency sectors. 

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