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.
Gold and diamond retail chain Malabar Gold & Diamonds will be investing Rs 1,600 crore in FY22 to launch 56 stores globally with 40 across India and 16 internationally in FY22 to further boost its retail presence across the globe. The move is expected to generate over 1,700 jobs. In India, the expansion strategy is centred in states like Tamil Nadu, Telangana, Andhra Pradesh, Karnataka, Maharashtra, Delhi, West Bengal, Uttar Pradesh, Odisha and Kerala. Internationally, the expansion will be in markets such as Singapore, Malaysia, Oman, Qatar, Bahrain and UAE.
Last month saw DGCX record the highest volumes, as trades in futures contracts across the bourse crossed one million contracts.
Futures contracts of the rupee against the dollar listed on the Dubai Gold
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.
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.
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.
Dubai Gold and Commodities Exchange, the world's newest commodities exchange and the first such marketplace in the Middle East, started trading this morning.
For the first time, the Indian rupee is going to be traded in the global futures market.
The deal values DGCX, which started operations one and a half years ago, at a whopping $1.25 billion.
Increased gold trade between India and Dubai scaled up trade between both the countries by 37.9 per cent at $11.8 billion in 2005, compared to the previous year.
The move is meant to curb or reverse the export of India's financial markets to overseas trading platforms.
This could change the way diamonds are traded.
Gold jewellery exports may decline by about 50 per cent in this financial year from last year after government restrictions reduced the availability of raw material, Gitanjali Gems Chairman and Managing Director Mehul Choksi said.
Derivatives exchange DGCX started trading futures for the S&P BSE Sensex
Laxity in enforcing KYC and allied norms suspected; money laundering gaps also on probe panel's mind
Few top honchos of India Inc did very well in 2014.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances