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3-in-1 Account - Currency

Explore a number of opportunities to profitably exchange one currency for another

3-in-1 Account Opening

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A currency future, also known as FX future, is a futures contract to exchange one currency for another at a specified date in the future at a price (exchange rate) that is fixed on the purchase date. On NSE the price of a future contract is in terms of INR per unit of other currency e.g. US Dollars. Currency future contracts allow investors to hedge against foreign exchange risk. Currency Derivatives are presently available on four currency pairs viz. US Dollars (USD), Euro (EUR), Great Britain Pound (GBP) and Japanese Yen (JPY).

The followings are highlighted features of 3-in-1 Account Currency :

Currency derivatives are a contract between the seller and buyer, whose value is to be derived from the underlying asset, the currency value.
A derivative based on currency exchange rates is an agreement that two currencies may be exchanged at a future date at a stipulated rate.

features and benefits

Currency derivatives

Currency derivatives offer a bundle of opportunities for a number of players

arbitrage opportunities

It gives arbitrage opportunities

trading opportunities

It gives trading opportunities because of its volatility and multiplicity

transparent trading

It provides highly transparent rates to traders as it is exchange-traded

hedging opportunities

It is a new asset class for diversification of investments for all resident Indians

It gives hedging opportunities to: Importers and exporters, who can hedge their future payables and receivables, Borrowers, who can hedge foreign currency (FCY) loans for interest and principal payments, with the need for proof of documented exposure
It is a new asset class for diversification of investments for all resident Indians

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Q. What are Currency Derivatives?

A. Currency Derivatives are Future and Options contracts which you can buy or sell specific quantity of a particular currency pair at a future date. It is similar to the Stock Futures and Options but the underlying happens to be currency pair (i.e. USDINR, EURINR, JPYINR OR GBPINR) instead of Stocks. A future contract of USDINR of expiry 27th Jan, 2012 will be represented by symbol ‘FUTCUR-USDINR-27JAN2015’. A call option contract of USDINR of expiry 27th Jan, 2015 for Strike Price ‘66’ will be represented by symbol ‘OPTCUR-USDINR-27JAN2015-66-CE’.

Q. How are Currency Futures and Options different from Equity futures?

A. For currency futures and options, underlying asset is the currency pair at currency exchange rate. For equity futures, the underlying asset is the equity share of respective company.

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