The Dubai Gold & Commodities Exchange today announced that trading in the Indian Rupee/Dollar futures contract reached an all time daily high of 1,264 contracts and US $53.8 million notional value on July 1st, 2010. The new trading record for the Indian Rupee contract surpasses the previous peak of 1,074 contracts and US $47.37 million notional value achieved on March 26th, 2010 and follows the highest ever Indian Rupee monthly volume which was set last month. Year-to-date volume for Indian Rupee/Dollar futures is more than double the number of contracts traded in the same period last year, with growth of 121%. "The recent daily high in Indian Rupee/Dollar futures demonstrates the increased demand among our global members and their commercial and investor clients to manage their exchange rate risk or gain exposure to the Indian Rupee," said Eric Hasham, Chief Executive Officer, DGCX. "We are delighted with the increased momentum and trading activity that we are seeing in the India Rupee contract, which is testimony to improved liquidity, low cost trading and easy access to DGCX markets," he added. July 1st saw total volume of 16,277 contracts, valued at US $863 million, the second highest trading day since inception. The highest daily record was set on March 1st, 2010, with 19,255 contracts traded, valued at US $1.27 billion.

Source