The Indian rupee is going to get the futures contract soon. The Dubai Gold and Commodities Exchange will list a futures contract on the Indian rupee in mid-June.
The deal values DGCX, which started operations one and a half years ago, at a whopping $1.25 billion.
The Reserve Bank of India has set up an expert working group for examining issues related to the launch of currency futures in the country.
Investors in West Asia can now trade in Indian currency with Dubai Gold and Commodity Exchange announcing on Wednesday the launch of world's first Rupee Currency Contract.
Derivatives exchange DGCX started trading futures for the S&P BSE Sensex
Last month saw DGCX record the highest volumes, as trades in futures contracts across the bourse crossed one million contracts.
Dubai Gold and Commodities Exchange, the world's newest commodities exchange and the first such marketplace in the Middle East, started trading this morning.
The Dubai Gold and Commodities Exchange, set up by Dubai and two partners from India and the first electronic multi-commodity derivatives exchange in the Middle East, will commence trading in November this year in precious metals contracts.
Reliance Capital, the financial services arm of Anil Ambani-led Reliance Group, has also listed several other concerns with regard to MXC deal.
The exchange, say sources, began mock trading from early October and around 250 Indian brokers have said they'd take membership of the international exchange.
Largest bidder says FTIL not following correct process and MCX not extending cooperation; FTIL and MCX say cooperating fully
R-Cap's demands following PwC's audit report add a fresh layer of worries for MCX investors and could hit valuations marginally.
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The broader consensus was that the Fed would cut the monthly stimulus of $85 billion by $10-15 billion.
Few top honchos of India Inc did very well in 2014.
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