India’s central bank, the Reserve Bank of India, has approved the introduction of the country’s first currency option, a rupee/ US dollar contract.
The decision comes amid the regulator’s commitment
to the further liberalisation of the country’s
derivatives market by allowing interest rate derivatives to be
traded in the future.
The central bank said it approved the introduction of
currency options "to expand the menu of tools for hedging
India’s second financial regulator, the
Securities and Exchange Board of India, must finalise the
details of the contract before Indian exchanges can list
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