Press Esc to close
Tuesday 17 January 2017
News updated at 6:20 PM IST
Weather
Max: 28°C
Min : 15.7°C
In Bengaluru
Sunny day

Sebi diktat: F&O currency volumes slump, Re up

New Delhi/Mumbai, PTI: July 16, 2013
Volumes in the currency derivatives market have fallen sharply since Sebi stepped in last week to curb speculative trades, even as some commodity brokers are being probed for possibly manipulations in forex trading.

The data shows that average daily volumes for currency options have fallen by as much as 79 per cent for one of the exchanges so far in July, but another bourse have witnessed a hefty drop of only 35 per cent.

In the futures segment also, the fall in average daily volume on Monday was very divergent within the two exchanges from 60 per cent in one bourse to 42 per cent on the other. These trends have been in sharp contrast to that witnessed till last month.
While volumes have been on a downward path since the beginning of the month, a much steeper fall has been noticed since July 11, when Sebi's orders for curtailing the exposure of brokers and traders and increasing their margins for forex's future and options trade came into effect.

The volumes fell even more sharply in Monday's trade following reports that possible forex derivative manipulation are under the Sebi scanner.

According to sources, at least four commodity brokers are being probed for trading through separate client codes -- other than allotted Unique Client Codes (UCC) -- to conceal their overall positions and avoid the curbs imposed by Sebi.

They are said to be conducting trade through benami entities to avoid the reduced position limits.

Rupee falls to 59.89

The rupee declined 33 paise, the most in a week, to 59.89 against the dollar, primarily due to fresh dollar demand from banks and importers, amid disappointing industrial production, a fall in exports and higher inflation.

The rupee resumed lower at 59.93 per dollar, compared with last weekend’s level of 59.56 on the Interbank Foreign Exchange market, and once again fell below the 60 level.
It hovered between 59.77 and 60.07 before ending at 59.89, a 0.55 per cent loss from the previous close.

The rupee had declined 39 paise against the dollar on July 8, when it dropped to a record low of 61.21.

 

Go to Top

Photo Gallery
London Olympics bronze medallist grappler Yogeshwar Dutt during his wedding procession at his ...

London Olympics bronze medallist grappler Yogeshwar Dutt during his wedding procession at his ...

German Chancellor Angela Merkel, right, and the Prime Minister of New Zealand Bill English, left ...

German Chancellor Angela Merkel, right, and the Prime Minister of New Zealand Bill English, left ...

In this photo taken Thursday, Dec. 22, 2016, Kenyan artist Evans Yegon displays one of his paintings

In this photo taken Thursday, Dec. 22, 2016, Kenyan artist Evans Yegon displays one of his paintings

BJP President Amit Shah welcomes former Congress leader Yashpal Arya after he was inducted into BJP

BJP President Amit Shah welcomes former Congress leader Yashpal Arya after he was inducted into BJP

People walk under their umbrellas on snow covered road after fresh heavy snowfall in Shimla on ...

People walk under their umbrellas on snow covered road after fresh heavy snowfall in Shimla on ...

A camel performs during the ongoing 24th International Camel Festival in Bikaner on Sunday...

A camel performs during the ongoing 24th International Camel Festival in Bikaner on Sunday...

Art lovers thronging Chitra Santhe organised by Karnataka Chitrakala Parishat on Kumara Krupa...

Art lovers thronging Chitra Santhe organised by Karnataka Chitrakala Parishat on Kumara Krupa...

Large number of art lovers visiting the 14th annual art fair 'Chitra Sante' organized...

Large number of art lovers visiting the 14th annual art fair 'Chitra Sante' organized...

A large number of tourists throng Mysuru Palace as weekend holidays and Mysuru Zoo remain closed...

A large number of tourists throng Mysuru Palace as weekend holidays and Mysuru Zoo remain closed...

People walk on a snow covered road following heavy snowfall at Kandi Area in Budhal, Rajouri...

People walk on a snow covered road following heavy snowfall at Kandi Area in Budhal, Rajouri...

Like us on Facebook

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523