RBI builds currency futures

In a quarterly monetary policy review report released last Tuesday (October 27), the central bank proposed the introduction of EUR/INR, JPY/INR and GBP/INR currency futures, though no date was provided. It said the products would act as a more direct hedge for currency exposures - to date only USD/INR currency futures have been available, in units of $1,000 with maturities of up to 12 months.

"While India has been less affected by the crisis than most other countries, there are lessons from the

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