DGCX to launch Indian rupee futures contract

DUBAI — Dubai Gold and Commodities Exchange (DGCX) yesterday announced that it will list a futures contract on the Indian rupee in the next two months. This will be the first time in the world that an Indian rupee currency contract will be traded on an organised exchange.

"The Indian Rupee contract represents yet another addition to the growing list of 'firsts' in DGCX's short history", said Colin Griffith, DGCX Chairman and Executive Director of the DMCC, the 51 per cent owner of the exchange. "DGCX was the first futures exchange in the Middle East, DGCX currency contracts launched last June were the first exchange-traded currencies in the Middle East and now with the launch of our Indian Rupee contract we can claim a global first."

More news from Business
In-store shopping regains trust


In-store shopping regains trust

What is happening now is that as Covid-19 cases continue to decline, residents are regaining confidence in in-store shopping. This is according to a Kearney study in which UAE respondents cite convenience (51 per cent), enhanced shopping experience (49 per cent) and competitive pricing (44 per cent) as the main motivators driving them back to brick and mortar stores

Business3 days ago