Ready for a bumpy ride

Special Report: India

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India is taking extremely divergent approaches to the development - or, in many cases, the lack of it - futures, options and other derivatives products.

On the positive side, the Securities and Exchange Board of India and the Reserve Bank of India (RBI) appear to have approved the launch of currency derivatives. India's main exchanges are tendering for the contracts, which may be launched by October. This new market will provide a currency-hedging mechanism to companies outside the export/import

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