After the advisory, trading in the contracts -- used to hedge against foreign exchange risks and speculate on currency movements -- nosedived in India and rose overseas
With the Indian rupee near record low of 88.45/US dollar, investors are asking why and how far down the INR might go? Read this report to find out if the rupee will fall or rebound in months ahead
The closure applies to equity, equity derivatives, SLB, and currency derivatives segments. Commodity markets will also remain shut during both morning and evening sessions
Das reiterated that there have been no changes to RBI's policy, emphasising that the necessity of underlying exposure has always been a fundamental aspect
As per the weekly Fibonacci chart, the Rupee can depreciate to 82 - 82.20 - 82.40 during the week. However, in case the currency sustains below 81.55-level a corrective move to 80.50 seems possible.
The central bank reduced the official rate to 1,450 dinar per dollar, the first devaluation since 2003. That's from about 1,190 previously. Dollars will be resold to local banks at 1,460 dinar apiece
The exchange has increased the transaction charge to Rs 12 per Rs 1 crore of turnover on both active and passive trades done on its currency future contracts
