The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
India plans to allow foreign-exchange settled rupee derivatives trading in specially designated centers as it tries to deepen the local market.
The non-deliverable forwards will be traded on the International Financial Services Centres, the Reserve Bank of India said. GIFT City in Indian state of Gujarat is currently the only operational venue. Trading in the onshore market has been shrinking at the expense of offshore rupee market, Governor Shaktikanta Das said.