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
  • Traded on a globally recognized, regulated and safe platform permitting greater participation

Contract Specifications

ContractParameters
Contract SymbolDINRM
UnderlyingIndian Rupee
Contract SizeINR 200,000
Notional Contract ValueINR 200,000
Trading CurrencyUS Dollar
Settlement CurrencyUS Dollar
Price QuoteUSD quoted in Cents per 100 Indian Rupees ( e.g. 155.73/155.74 US Cents per 100 Indian Rupees)
Tick SizeUS$ 0.01 US Cents
Tick ValueUS$ 0.2
Settlement BasisCash Only Settlement Contract
Final Cash Settlement PriceFCSP is based on the official USDINR reference rate issued by relevant body on Last Trading Day (rounded to 4 decimal places)
Last Day of TradingTwo Business Days prior to the last working day of the contract month
Trading DaysMonday through to Friday
Trading Hours07:00 - 23:55 Hours Dubai time (GMT+4)
Trading MonthsMonthly contracts and spreads for twelve months forward
New Contract ListingBusiness day immediately following the last trading day
Max Order Size500 lots for Banks and institutions promoted by Banks. All other entities 200 Lots
EFP / EFS / Block TradesAs per DGCX By-Laws. Minimum Block size permitted is 200 contracts
Time Limit for Trade Registration - EFP / EFS / BlockUp to 5 minutes after cessation of trading on any trading day
Initial Margin based on SPANUSD 50 per lot (subject to change)
Extra MarginAt times of high volatility, an extra margin, as deemed fit by the Exchange, may be charged
Calendar Spread Margin100% benefits is offered on calendar spread positions
Daily Price Movement limitNo 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 MonthExpiry CodeLast Trading Day
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
Aug'20DINRM-2020082727-Aug-20
Sep'20DINRM-2020092828-Sep-20
Oct'20DINRM-2020102828-Oct-20
Nov'20DINRM-2020112626-Nov-20