The Indian Rupee – USD futures contract is part of a key initiative of the DGCX, giving access to currencies that are relevant to the region. India is one of UAE’s largest trade partners and Non Resident Indians (NRIs) contribute over 30% of the total population of the UAE.
India’s economy is one of the fastest growing economies in the world and is consistently ranked highly in terms of GDP growth. The Indian Rupee liquidity pool has attracted the attention of numerous global entities to hedge their Indian Rupee risk offshore. This has enabled the DGCX to become the largest global liquidity pool in Indian Rupee futures and options. The smaller sized contract is aimed at corporations looking at more precise hedging requirements as well as the retail community.
- Tracks and prices the largest global liquidity pool in INR Futures
- Traded and Cash settled in US Dollars (USD) against the RBI reference rate eliminating basis risk
- Tax Free – No transaction Tax and Zero Capital Gains tax
- Basis 200,000 INR contract size, tick size USD $0.2
- Hedging window available long after Indian currency markets close
- Smaller contract size provides the opportunity to hedge for global participants with more precise hedging requirements and exposure to the Indian Rupee
- Unique trading opportunity in the region to participate in global currency markets
- The margin offsets by DCCC for inter-commodity spreads offers greater capital efficiency
- Access to the largest global liquidity pools with narrow spreads
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Traded on a globally recognized, regulated and safe platform permitting greater participation
Contract Specifications
Contract | Parameters |
Contract Symbol | DINRM |
Underlying | Indian Rupee |
Contract Size | INR 200,000 |
Notional Contract Value | INR 200,000 |
Trading Currency | US Dollar |
Settlement Currency | US Dollar |
Price Quote | USD quoted in Cents per 100 Indian Rupees ( e.g. 155.73/155.74 US Cents per 100 Indian Rupees) |
Tick Size | US$ 0.01 US Cents |
Tick Value | US$ 0.2 |
Settlement Basis | Cash Only Settlement Contract |
Final Cash Settlement Price | FCSP is based on the official USDINR reference rate issued by relevant body on Last Trading Day (rounded to 4 decimal places) |
Last Day of Trading | Two Business Days prior to the last working day of the contract month |
Trading Days | Monday through to Friday |
Trading Hours | 07:00 - 23:55 Hours Dubai time (GMT+4) |
Trading Months | Monthly contracts and spreads for twelve months forward |
New Contract Listing | Business day immediately following the last trading day |
Max Order Size | 2,000 Lots |
EFP / EFS / Block Trades | As per DGCX By-Laws. Minimum Block size permitted is 200 contracts |
Time Limit for Trade Registration - EFP / EFS / Block | Up to 5 minutes after cessation of trading on any trading day |
Initial Margin based on SPAN | USD 50 per lot (subject to change) |
Extra Margin | At times of high volatility, an extra margin, as deemed fit by the Exchange, may be charged |
Calendar Spread Margin | 100% benefits is offered on calendar spread positions |
Daily Price Movement limit | No Price Limits - Note 1* |
Note 1*: For the avoidance of “fat finger” errors, price bands shall be 1.5 US Cents from the previous settlement price. If the price breaches the daily price movement limit, trading in the particular contract shall continue, with the new trading price range without any cooling period
Contract Calendar
Expiry Month | Expiry Code | Last Trading Day | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Nov'24 | DINRM-20241127 | 27-Nov-24 | ||||||||||||||||||
Dec'24 | DINRM-20241227 | 27-Dec-24 | ||||||||||||||||||
Jan'25 | DINRM-20250129 | 29-Jan-25 | ||||||||||||||||||
Feb'25 | DINRM-20250226 | 26-Feb-25 | ||||||||||||||||||
Mar'25 | DINRM-20250327 | 27-Mar-25 | ||||||||||||||||||
Apr'25 | DINRM-20250428 | 28-Apr-25 | ||||||||||||||||||
May'25 | DINRM-20250528 | 28-May-25 | ||||||||||||||||||
Jun'25 | DINRM-20250626 | 26-Jun-25 | ||||||||||||||||||
Jul'25 | DINRM-20250729 | 29-Jul-25 | ||||||||||||||||||
Aug'25 | DINRM-20250827 | 27-Aug-25 | ||||||||||||||||||
Sept'25 | DINRM-20250926 | 26-Sept-25 | ||||||||||||||||||
Oct'25 | DINRM-20251029 | 29-Oct-25 | ||||||||||||||||||
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