The Bombay Stock Exchange (BSE) introduced the currency futures trading in India on Wednesday. It was inaugurated by the chairman of Security and Exchange Borad of India, Chairman C. B. Bhave.

The currency derivatives segment (BSE-CDX) address the currency risks of investors through U.S. dollar-rupee future platforms. It is the first ever currency trading scheme in the country and the Multi Commodity Exchange of India (MCX) will also launch future currency trading very soon. 

The investors have no need to be solely dependent on over-the-counter (OTC) products such as forwards, swaps and options for their currency risks.

The chairman of SEBI, Mr. Bhave said that the government would do its best to bring transparency in the market. SEBI and the reserve bank are thinking on the idea of further relaxation in the currency trading norms. He said that the regulatory bodies should work on building faith among guidelines and the investors.

The chairman of BSE, Jagdish Capoor said that the exchange is planning to start strategic association with the Deutsche Borse of Germany and the Singapore Stock Exchange.