Currency Futures kick-start at NSE

The country witnessed its first ever exchange to trade in currency future yesterday as the National Stock Exchange (NSE) added another one to its firsts. The exchange had also pioneered commencement of Internet Trading in February 2000, which led to the wide popularization of the NSE in the broker community.

Trade in currency derivatives kick-started right on the first day as the dollar-rupee futures received an overwhelming response from market participants with nearly 70,000 contracts trading.

The first currency futures transaction on the exchange was executed by East India Securities while HDFC Bank was the first bank to carry trade in the new instrument. Looking at the kind of response the segment got on the first day, currency futures will in long run bring mega gains to exchanges.