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DGCX launches Pakistani Rupee Futures Contract

DGCX launches Pakistani Rupee Futures Contract
The contract will be traded and cash-settled in US dollar

UAE - Mubasher: The Dubai Gold & Commodities Exchange (DGCX) has launched its Pakistani Rupee (PKR) Futures Contract, the first-of-its-kind on any regulated exchange in the world.

Now available for trading, the contract will enable members and clients to hedge exposure to the Pakistani Rupee, while offering trading opportunities against a wide range of existing foreign exchange currency products, according to a press release on Monday.

With a size of 2 million of base currently (PKR), the contract will be traded and cash-settled in US dollar, based on publicly available reference prices displayed on the last trading day.

The CEO of DGCX, Les Male, said: "As we move into the second quarter of 2021, we continue to see interest in more currency products - and are exploring opportunities to launch similar initiatives soon."