Currency derivatives in India are in the form of currency futures, also known as
A currency futures contract is there to exchange one currency for another at a specified
date in the future at a price (exchange rate) that is fixed on the purchase date.
In India, settlement of all currency derivatives happens on the last working day
of the month.
On NSE, the price of a futures contract is in terms of INR per unit of other currency
e.g. US Dollars. Currency futures contracts allow investors to hedge against foreign
exchange risk. The exchange launched its currency futures trading platform in August
Currency derivatives are available on four currency pairs viz. US Dollars, Euro,
Great Britain Pound, and Japanese Yen. Cross Currency Futures & Options contracts
on EUR-USD, GBP-USD, and USD-JPY are also available for trading in currency derivatives
In October 2008, BSE launched its currency derivatives segment in US Dollar-Indian
Rupee currency futures.
Depending upon your preference, you can choose to trade currency derivatives nse
or currency derivatives bse.