Thursday, August 7, 2008

Trading in Currency Futures permitted on Indian Stock Exchanges

The RBI and SEBI have jointly published guidelines for trading in currency futures on Indian stock exchanges yesterday. This would help further widen the derivative markets in India - While currently only trading in INR-USD futures is permitted, it may be further expanded at a later stage.

A currency future is a standardised foreign exchange derivative contract traded on a recognized stock exchange to buy or sell one currency against another on a specified future date, at a price specified on the date of contract. It does not include a forward contract. For more details, see the notification at the RBI website (www.rbi.org.in)

2 comments:

Saoirse said...

I recently came accross your blog and have been reading along. I thought I would leave my first comment. I dont know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.


Patricia

http://forextradin-g.net

Ra's Al Ghul said...

Hi,Would you know the income tax rules/payable on income generated from currency futures trading.I've recently commenced and would like to be wary of what I'm stepping in to.Was informed by the futures' website that annual profits of USD 25000 and under were not taxable.Is this true?If so,are you aware of any RBI(FEMA) rule I could look up?
Thank you.
C.Kartik