Forex futures are on the rise as exchange rate volatility is causing major impact especially in emerging market economies. Paraguay adds its name to the list of elite nations intending to offer domestic currency futures listed on a recognised exchange.
Paraguay is working with the Argentina Clearing SA to develop its local stock exchange and is now making ways for the currency futures contracts.
The Paraguay Guarani is currently trading at 4512.72 against the greenback.
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Paraguay has been developing its economy, in 2010 its economy grew by a massive 15%.
Paraguay is a net exporter of Soya and has large number of cattle products.
The new futures exchange will trade the greenback against the local currency guaraní, there are plans for soya and beef contracts in the future.
Argentina’s ROFEX exchange is the benchmark for the new exchange in Paraguay, ROFEX has a long history dating back over a century. The exchange has been developing itself as a major clearing house after introducing its signature electronic trading platform e-Rofex. With increased participation the exchange is now in the top 30 global futures exchanges.
South American countries are developing their economies and financial markets, smaller countries have partnered with more advanced nations to enhance their offerings. Chile, Columbia and Peru signed a joint deal to boost inter country trading.
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