On Friday, finance minister Nirmala Sitharaman ON launched contracts for Rupee-Dollar Futures and Options on the India INX and NSE NSE-IFSC exchanges of BSE. The introduction of the INR-USD contracts at the GIFT- IFSC would be a step towards bringing back the demand for financial services that have moved to international financial centers.
Bringing back the business in the country, India’s economy will positively benefit from it. Since GIFT- International Financial Service Center (IFSC) is an excellent business platform, the availability of INR- USD contracts for 22 hours across all time zones is likely to attract huge volumes of global participation in India.
