Uncertain futures

Regulators in India have given approval for rupee futures, which are expected to launch this year. William Rhode examines the benefits of such instruments and the challenges the authorities will face once the contracts go live


India looks set to introduce exchange-traded currency derivatives this year, perhaps by October, which would represent an important development for the sub-continent's onshore derivatives market. But certain issues are still to be ironed out by the regulators.

A committee set up by the Securities and Exchange Board of India (Sebi) and the Reserve Bank of India (RBI) - which advises on operational aspects for trading of currency futures on exchanges - formally recommended the introduction of

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