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Technicals Technical Chart Visualize Screener. NIFTY 50 10, Drag according to your convenience. Given that most currencies trade actively after India shuts, the central bank may have to follow its Chinese counterpart — relax trade timings.
The Reserve Bank of India may have thrown its hat into the currency derivatives ring, but the problem is that there's hardly any investor on the other side to take a position. Given that most currencies trade actively after India shuts, the central bank may have to follow its Chinese counterpart — relax trade timings to Sharp currency moves give opportunities to speculators, hedgers and high networth individuals to make big money in currency derivatives, including futures and options.
Those markets close trading at 5 pm every day missing out global moves, whether triggered by the US job data or European Central Bank decisions, which mostly happen in the evening as global markets open. Currently, four currency pairs are traded in futures market — rupee-dollar, rupee-pound, rupeeyen, and rupee-euro. Of which rupee-dollar was only allowed in options market in domestic stock exchanges.
Moreover, many corporate investors tap the offshore non-deliverable forwards, or NDF markets, which remain open round-theclock with greater flexibility. The average daily turnover in December quarter in the rupee-dollar pair is now at Rs 9, crore against Rs 16, crore during the same period in , show data from Kotak Securities citing NSE futures volumes.
A few weeks ago, the central bank begun to participate on exchange traded rupee futures market to intervene in wild swings hurting the local unit's sharp valuations. The next step should ideally be extension of trading hours to Read more on Singapore exchange.
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