DGCX Rupee

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Rupee futures trade on the Dubai Gold and Commodities Exchange (DGCX). They were launched June 7, 2007.

Each DGCX Indian rupee contract represents two million Rupees. Prices are quoted in US Cents per 100 Indian Rupees, with a minimum price fluctuation of 0.000001 US Dollars per Rupee ($2 per contract). At any point in time DGCX will list the current and next two calendar months, plus the next three calendar quarterly months.

Five concurrently listed contracts consisting of one Near Month Contract plus Mar, Jun, Sep and Dec contracts.

How Quoted[edit]

US dollar quoted in Cents per 100 Indian Rupees (e.g. 244.56 / 244.62 US Cents per 100 Indian Rupees).

Price Tick

US dollar 0.000001 per INR or $ 2 per tick

Margins[edit]

As determined by the Exchange from time to time using SPAN Margin System. At the outset, Minimum Initial Margin is US$1500.

Trading Hours[edit]

Monday through Friday; 0830 – 2000 Hrs Dubai Time

Settlement[edit]

The rupee has daily variation margin (mark-to-market)payable by each member holding open position till expiration date. Open positions at expiry of contract are settled in US dollars as per Daily Settlement Price (DSP) declared by the Exchange. Such DSP would be based on the official US Dollar Reference Rate issued by the Reserve Bank of India, based on bank rates in Mumbai at 12 noon on the Last Day of Trading or earliest available date.

The physical settlement are completed using Indian Rupee Contract Unit Equivalent amount in Euros calculated at the Settlement Price, declared by the Exchange for Euro Futures Contract with the same Delivery Month as the Indian Rupee Futures Contract on the Last Trading Day of that Indian Rupee Futures Contract.