The Dubai Gold and Commodities Exchange (DGCX) is launching an Indian national rupee (INR) options contract. The contract, which is an exchange‐traded INR options product being offered to markets outside India, will allow the bourse to build on volume growth achieved by rupee futures contract over the last 12 months and meet member demand.
The contract will offer members more flexibility to hedge risk and trade in the Indian rupee in a transparent, regulated and cleared trading environment. Each DGCX Indian rupee options contract represents $40,331. Prices will be quoted in U.S. cents per 100 Indian rupees, with a minimum premium fluctuation of $0.000001 per rupee.
Click here for the release from Dubai Gold and Commodities Exchange.