Bombay Stock Exchange launches trading in currency derivativesOctober 1st, 2008 - 11:58 am ICT by IANS
Mumbai, Oct 1 (IANS) The Bombay Stock Exchange launched its currency derivatives segment in dollar-rupee currency futures here Wednesday, chief operating officer M.L. Soneji said.“Exchange trading currency derivatives market will provide excellent opportunity to hedge currency risk for different participants. In today’s business environment, many entities irrespective of the nature of its business are impacted by currency risk either directly or indirectly,” Soneji said.
Currency derivatives are used mostly by small and medium enterprises engaged in international trade to hedge their risks against fluctuations in currency values.
The contracts will have a minimum size of $1,000 and tghen in its multiples. They will be available for trading between 9 a.m. and 5 p.m.
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