Business Daily from THE HINDU group of publications
Wednesday, Sep 17, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Wednesday, Sep 17, 2008 ePaper | Mobile/PDA Version | Audio |
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Markets
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Derivatives Markets Money & Banking - Forex Currency futures were launched on August 29 on NSE. On that day, the exchange had registered trade of 65,798 contracts worth Rs 292.05 crore. Our Bureau Mumbai, Sept. 16 Currency futures trade on NSE saw trades of nearly one lakh contracts, the highest since its launch last month. “Currency futures saw a trading volume of Rs 456.88 crore arising out of 97,642 contracts,” said an NSE report. Total number of contracts and the turnover doubled as the number of contracts traded touched nearly one lakh mark as compared to 50,386 contracts valued at Rs 232.06 crore traded on Monday. Active tradeCurrency futures were launched on August 29 on NSE. On that day, the exchange had registered trade of 65,798 contracts worth Rs 292.05 crore. But later, the volumes had come down to an average of 40, 000 contracts a day during the first week of trading. The September 25 USD-INR contract was the most active currency contract traded on Tuesday, recording 80,941 contracts valuing Rs 378.49 crore. As compared to near term USD-INR September 25 contract traded at 44.03 on August 29, they were traded at 46.87 on Tuesday. The USD-INR August 27, 2009, contract was traded at 47.70. Traders’ handMost of the transactions were done by traders themselves, said dealers and forex analysts. “With the volatile rupee-dollar relations, there is lot of opportunity for speculative trading with lots of traders participating,” said Mr Alex Mathew, Head–Research Centre, Geojit Financial Services. The rupee touched a low of 46.97/98 to a dollar in the intra-day trade on Tuesday. The FII outflows were also leading to higher speculative trading in the currency, said a dealer. More Stories on : Derivatives Markets | Forex
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