The Dubai Gold & Commodities Exchange (DGCX) has launched a Pakistani Rupee (PKR) Futures Contract, which is now available for trading.

The first-of-its-kind on any regulated exchange in the world, the contract will provide members and their clients with the ability to hedge exposure to the Pakistani Rupee.

It will also provide trading opportunities against the wide range of existing foreign exchange currency products that DGCX makes available for trading, the exchange said in a statement.

The contract size is 2,000,000 of base currently (PKR) and will be traded and cash settled in US dollars (USD) based on publicly available reference prices displayed on the last trading day.

(Writing by Brinda Darasha; editing by Daniel Luiz)

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2021