Markets
Currency
Currency futures and options on Indian exchanges.
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About the currency market
The currency market is where currencies are bought and sold in pairs. Participants include banks, central banks, investment firms, companies, importers, exporters and individual investors.
In India, individuals trade currencies through exchange-traded currency derivatives: futures and options on rupee pairs such as USD-INR, EUR-INR, GBP-INR and JPY-INR. A currency future is an agreement to exchange two currencies on a set date at a set rate.
What currency derivatives are used for
- Hedging: importers and exporters can fix an exchange rate in advance to protect against rupee movements.
- Diversification: currency exposure behaves differently from shares and bonds.
- Margin trading: positions need only a margin, not the full value, which magnifies both gains and losses.
- Liquidity: the main pairs are actively traded on the exchanges.
You can trade currency derivatives through a trading account with a SEBI-registered broker.
Investments in securities markets are subject to market risks. Read all related documents carefully before investing.