With continued interest stemming from international investors for Indian based products, NSE a leading Indian bourse is partnering with Japan’s Osaka Exchange to allow investors trading in Nifty futures denominated in Japanese Yen.
The move comes with no surprise as investors have been exploring mechanisms to invest directly in one of the worlds fastest growing economies. India has witnessed exponential growth since the government first opened up the economy in 1991. Since then the BRICS member has smartly developed its domestic economy and offers investors premium plus returns when mature markets are yielding negative returns.
The Nifty is currently trading at 6075.65
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The National Stock Exchange will collaborate with the Osaka Exchange to host the futures contact in 2014.
India launched currency futures in summer 2008. After the successful launch the government expanded its FX derivatives product range by opening up the currencies offered to include, GBP, EUR and Yen.
India’s Nifty index started its international journey when it was first listed in Singapore, the contract was widely traded and thus the CME launched Nifty Futures. Japan will be the third venue that lists the contract.
Forex Magnates team are reviewing a future Summit to showcase India’s diverse position as a leading economy for financial and investment products.