United Stock Exchange of India said that it will commence trading in US Dollar-Indian Rupee currency options from tomorrow on October 29.
The call and put options will be introduced on the USD-INR spot rate with 12 'In The Money', 12 'Out of The Money' and one 'Near The Money Option' with a strike price interval of 25 paise, thereby providing a price scan range of Rs 6.25.
These options will be available for expiry in the three near months and the three quarterly months going up to one year, allowing users flexibility to take price insurance up to one year on foreign exchange. USE already received approvals from Sebi and RBI. It has also conducted mock trading session on this new product.
"We are very excited to bring this new product to traders, investors and hedgers across the country. We hope that corporate entities and small and medium enterprises with currency exposure utilise this powerful product for their hedging requirements," said T S Narayanasami, MD and CEO of United Stock Exchange.