We have all types of ETF - stocks, commodities… but I don’t find any currency ETF. I do not wish to hold a futures position (because of margin and rollover every month). I would instead like to hold it in ETF (just like gold).
I don’t suppose there is any INR ETF but if you are looking for other currency ETFs like the dollar index or from a safe haven currency perspecitve something like the Swiss Franc ETF. Details are easily available through google searches. Here’s one link:
Just as a gold ETF hold gold on your behalf, a currency ETF should hold currency on your behalf. e.g. if I buy USD ETF (instead of holding USD in my bank account or holding a USD futures), there is no derivative trading in this. Whatever be the price fluctuation, it will be reflected in NAV of the ETF. This actually helps in keeping foreign exchange without RBI trying to shell out too much.