South African exchange is seeking to tap growing FX trade in the region
The Johannesburg Stock Exchange (JSE) launched on Friday
three new currency futures contracts, the first of their kind
on the South African market.
The contracts track the exchange rate between South African
Rand and the Zambian Kwacha, Kenyan Shilling and Nigerian Naira
The currency futures market is relatively undeveloped in the
region but the latest figures from the South African Revenue
Services show trade flow between South Africa and Nigeria in
particular is robust, creating the perfect market conditions
for such products.
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