Indian Rupee- United States dollar futures contract is a part of the key initiative of the exchange to give access to currencies that are relevant to the region. India is one of UAE’s largest trade partner and Indian’s consist of over 30% of the total populace of UAE.

Indian economy is one of the fastest growing economies in the world and is ranked third in global GDP on a PPP basis. The Indian Rupee contract has attracted the attention of several global funds and organizations to hedge their Indian Rupee risk offshore in UAE.

  • Hedging window available long after Indian currency markets close
  • Arbitrage opportunity with the conventional INR-USD contract traded on the index
  • Low size , and impact cost makes it a very good contract for traders
  • Unique trading opportunity for Indians in the region and international funds with exposure to India to manage their risk
  • Contract size is variable and depends on the Indian Rupee movement against the USD, making it better to take advantage on movements in the Indian Rupee
  • Cash settled in USD on the Indian Central Bank reference rate eliminating any basis risk
  • UAE is a Tax Free jurisdiction ensuring no tax liability arising out of accrued profit
  • Market hours from 7.30 AM India time till 1.25 AM India time
  • Overlaps most trading zones including Europe and United States

Contract Specifications

ContractParameters
Contract TypeFuture
Contract NameIndian Rupee/US Dollar
Contract SymbolDINR
UnderlyingIndian Rupee
Contract SizeINR 2,000,000
Notional Contract ValueINR 2,000,000
Trading CurrencyUSD
Settlement CurrencyUSD
Price QuoteUS Dollars quoted in Cents per 100 Indian Rupees
Tick SizeUS$ 0.01
Tick ValueUS$ 2.00
Settlement BasisCash Settled
Final Cash Settlement Price (FCSP)FCSP is based on the official USDINR reference rate issued by relevant body on Last Trading Day (rounded to 4 decimal places)
Last Trading Day (LTD)Two Business Days prior to the last Business Day of the contract month
Trading DaysExchange Business Days*
Trading Hours07:00 – 23:55 Hours Dubai time
Trading MonthsMonthly contracts for twelve months forward
New Contract ListingBusiness Day immediately following the Last Trading Day
Max Order Size200 Lots
Wholesale TradesBlock Trade minimum size threshold: 50 lots. EFP/EFS also available. Trades must be submitted 15 minutes after execution
No Cancellation RangeSee link: www.dgcx.ae/price-limits

*See Exchange By-Laws Part M

Contract Calendar

Expiry MonthExpiry CodeLast Trading Day
Aug'19DINRM-2019082828-Aug-19
Sep'19DINRM-2019092626-Sep-19
Oct'19DINRM-2019102929-Oct-19
Nov'19DINRM-2019112727-Nov-19
Dec'19DINRM-2019122727-Dec-19
Jan'20DINRM-2020012929-Jan-19
Feb'20DINRM-2020022626-Feb-19
Mar'20DINRM-2020032727-Mar-19
Apr'20DINRM-2020042828-Apr-19
May'20DINRM-2020052727-May-19
Jun'20DINRM-2020062626-Jun-19
Jul'20DINRM-2020072929-Jul-19