Starting 11th October 2021, NSE has introduced weekly futures contracts on USDINR currency pair. You can check the announcement from the exchange here.
The contract specifications are as below:
| Symbol | USDINR |
|---|---|
| Instrument type | FUTCUR |
| Unit of trading | USDINR: 1 unit denotes 1000 USD. |
| Underlying / Order Quotation | The exchange rate in Indian Rupees for US Dollars |
| Tick size | INR 0.0025 |
| Trading hours | Monday to Friday 9:00 a.m. to 5:00 p.m. |
| Contract cycle | 11 serial weekly contracts expiring on Friday, excluding expiry week where monthly contract expires on a Friday. If the last Friday of the expiring week is a trading holiday, then the expiry day is the previous trading day |
| Last trading day | Friday of the expiring week at 12:30 pm |
| Quantity freeze | 5001 or greater |
| Settlement | Daily settlement: T + 1 Final settlement: T + 2 |
| Mode of settlement | Cash settled in Indian Rupees |
| Daily settlement price | Calculated based on the last half an hour weighted average price of futures across exchanges |
| Final settlement price | Reference rate published by FBIL for INR / 1 USD pair |
You can learn more about Currency trading in this module on Varsity: