MUMBAI: Currency futures markets are tacitly shifting out of India. "Those overseas exchanges are now focusing significantly to attract NRI customers to trade in dollar rupee. "Trading position limits make a big difference and hedging is more cost-effective in the two overseas exchanges. Hedging via the DGCX is 0.5 to 1% cheaper, dealers said.Trades are capped at $15 million per Indian exchange compared with $300 million at the SGX and no limits on the DGCX. A lot of diamond and agriculture trades are moving to SGX, which also adds to currency futures trading.

Source: Economic Times September 08, 2016 15:42 UTC