INR-USD Futures and Options contracts have been launched on International Exchanges by the Union Minister for Finance & Corporate Affairs, Nirmala Sitaraman. The INR-USD Futures and Options contracts have been launched on BSE’s India INX and National Stock Exchange, NSE’s NSE-IFSC, at GIFT International Financial Services Centre, Gandhinagar, Gujarat.
INR-USD contracts have been launched at the exchanges in GIFT-IFSC as a significant market share in financial services related to India has moved to other international financial centres. Launching them at the exchanges in GIFT-IFSC will bring this business to India and benefit the country in terms of economic activity and employment gains. It would also bring larger global participation in India through IFSC and will also connect India’s IFSC globally as it will be available for 22 hours across all time zones for all global participants from GIFT IFSC.