Singapore Exchange (SGX) today reported on Indian Rupee futures volume metrics with June processing record figures. Volume and open interest of the SGX INR/USD currency futures surged nearly 26-fold and 74-fold year-on-year respectively.
Daily open interest grew to a new record high of 32,198 contracts (over US$1 billion in notional value) June 25th. Moreover, in June 2015, SGX INR/USD futures trading volumes soared to a new record high of 286,959 contracts (approximately USD$9 billion in notional value traded), up nearly 26 times year-on-year from the 11,165 contracts traded in June 2014.
Over the same period, open daily interest in SGX INR/USD futures swelled to a record 32,198 on 25 June, driven by growing demand from a broad base of global investors seeking efficient currency hedging instruments that offer greater market transparency and robust price discovery.
Source: Singapore Exchange