The Market regulator SEBI has announced that it will introduce exchange traded currency futures in the next three months. The currency future is suggested to have a minimum price of $1,000, which would be introductory.
SEBI also pointed out that next they would be working on interest rate derivatives.
Currency futures and interest rate derivatives are financial instruments that are used to hedge financial risks. They are highly used in developed markets like the US. This is a clear sign of the Indian markets becoming more matured and advanced.
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