DCGX launches first rupee futures contract
Landmark currency contract on Dubai exchange
The Dubai Gold and Commodities Exchange (DGCX) will launch the first Indian rupee futures contract in June.
The electronic commodities exchange developed the product over the past nine months in response to a substantial move in the rupee and demand from its members, says DGCX chairman Colin Griffith.
The DGCX will list one-, two- and three-month contracts, in addition to those listed on a quarterly basis. Each contract will represent 2 million rupees, and prices will be quoted in US cents per 100
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