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NSE’s currency derivative segment sees transactions worth Rs 609 trillion in 15 years

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August 28, 2023
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NSE’s currency derivative segment sees transactions worth Rs 609 trillion in 15 years
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New Delhi: Leading bourse NSE‘s exchange-traded currency derivatives, which completes 15 years on Tuesday, witnessed close to 2,000 crore contracts worth Rs 609 lakh crore transactions during its journey. The National Stock Exchange of India (NSE) introduced the Exchange Traded Currency Derivatives segment on August 29, 2008, with the launch of Futures on currency spot rate US Dollar – Indian Rupee.

The first day of trading witnessed trading of 65,798 contracts worth Rs 291 crore with participation from more than 150 trading members, including banks.

“In the 15 years journey, close to 20 billion contracts worth Rs 609 trillion have transacted on the exchange,” the bourse said in a statement on Monday.

In the last 10 years, the number of contracts traded has increased by 7 times from daily average contracts traded to 1.92 crore in the financial year 2022-23 (FY23) from 27 lakh in FY14. During the same period, turnover has risen by 3.4 times from a daily average turnover of Rs 41,400 crore in FY23 to Rs 12,000 crore in FY14.

“The success of currency derivatives is a culmination of the collaborative effort of all the stakeholders. NSE will continue to make efforts on its part for the development of the currency derivatives segment,” Sriram Krishnan, Chief Business Development Officer at NSE, said.

The bourse now offers currency futures and currency options on 7 currency pairs — the 4 Indian Rupee pairs: US Dollar – Indian Rupee (USDINR), Euro – Indian Rupee (EURINR), Japanese Yen – Indian Rupee (JPYINR), Pound Sterling – Indian Rupee (GBPINR) and 3 USD pairs: Euro – US Dollar (EURUSD) Pound Sterling – US Dollar (GBPUSD) and US Dollar – Japanese Yen (USDJPY).

Tags: Currencycurrency derivative segment transactionsderivativedollarnsense currency derivative segmentnse newsNSEsRupeeseessegmenttransactionsTrillionworthYears
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