NSE introduces weekly futures contracts on USDINR pair

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:

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: