Union Minister for Finance & Corporate Affairs has launched INR-USD Futures and Options contracts on the two International Exchanges, viz BSE’s India INX and NSE’s NSE-IFSC, at GIFT International Financial Services Centre at Gandhinagar today through video conference.
The launch of INR-USD contracts at the exchanges in GIFT-IFSC is a step in bringing the international financial centres to India.
Earlier, the significant market share in financial services related to India has moved to other international financial centres.
The move will be available 22 hours across all time zones for all global participants from GIFT IFSC.
It is expected that trading of INR-USD contracts will bring volumes to India.
The move would also bring larger global participation in India through IFSC and connect India’s IFSC globally.
