DGCX Indian rupee contract records highest ever daily volume

The daily Indian rupee trading volume on the Dubai Gold and Commodities Exchange (DGCX) reached 15,509 contracts on June 23, valued at $688.52 million, which is the highest turnover since the launch of the contract.

According to a DGCX statement, the total open interest of 13,033 achieved on June 23, 2011, is the highest ever daily total open interest on the exchange since inception. The contract also set an open interest record of 7,811 contracts on the same day.

The new record for the Indian rupee contract surpasses the previous 12,499 contracts worth $551.55 million achieved on February 22, 2011.

The new open interest record for the contract exceeds the previous high of 7,578 set on June 13, 2011. The DGCX reached its highest ever daily total open interest of 13,033 on the day, beating the previous record of 12,294 set on June 22, 2011.

The DGCX also achieved its second highest daily trading volume, with a total of 18,510 contracts, valued at $868.32 million, attracting interest on June 23, 2011.

Established in 2005, the DGCX is the region's first derivatives exchange and the only one allowing participants to clear and settle transactions within the Gulf region. The exchange has played a pioneering role in developing the regional market for derivatives.

DGCX is a Dubai Multi Commodities Centre (Dubai government) initiative in partnership with Financial Technologies (India) Limited and Multi Commodity Exchange of India Limited (MCX).