DGCX Upticks in Indian Rupee
Indian Rupee Quanto Future Up by 42.14% YoY DGCX Records Best April since Inception! The Dubai Gold & Commodities Exchange (DGCX) achieved its best April performance since inception, with overall volumes reaching 1,696,877 contracts, valued at USD 32.29 billion. Last month’s record-breaking performance was largely driven by an uptick in Indian Rupee (INR) trading fuelled by India’s upcoming elections, as well as ongoing geopolitical tensions across Europe, the United States, and Asia, which have helped maintain elevated volumes in other contracts across the Exchange. Additionally, the Indian Rupee Quanto Future, the index pricing of the Indian Rupee US Dollar currency pair, performed well, trading 1,621,202 contracts year-to-date (Y-T-D), up 42.14% year-on-year (Y-O-Y). Among the G6 Currency pairs, the Euro was the most prominent, recording its highest monthly Average Open Interest (AOI) of 3,574 contracts. Les Male, CEO of DGCX, commented: “After a str...