The Dubai Gold & Commodities Exchange (DGCX) said trading in Indian Rupee/Dollar futures has crossed the 5,000 contracts mark reaching an all time daily high of 5,201 contracts, valued at $234.08 million.

The new daily volume record surpassed the previous peak of 4,724 contracts, valued at $212.16 million, set on October 7, 2010, said a DGCX statement.

The daily high follows the DGCX Indian Rupee futures’ fourth straight monthly volume record of 69,917 contracts set in September 2010, the statement added.

The year-to-date volume for Indian Rupee futures reached 192,628 contracts at the end of September, registering a growth of 195 per cent compared to last year.

'The outstanding run of DGCX Indian Rupee/Dollar futures YTD demonstrates the growing demand for trading the contract among our membership base,' said Eric Hasham, chief executive officer, DGCX.

'Apart from the fact that it provides an ideal financial tool to manage price risk in the Indian Rupee, the product’s performance has been driven by improved liquidity, low cost trading and easy access to DGCX markets,' it added.-TradeArabia News Service