Press Esc to close
Friday 24 October 2014
News updated at 5:04 PM IST
Weather
Max: 0°C
Min : 0°C
In Bangalore
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
Hindu priest performs evening prayers called 'Aarti' on the banks of the river Yamuna...

Hindu priest performs evening prayers called 'Aarti' on the banks of the river Yamuna...

Dakshineswar Temple decorated with lights for the Kali Puja and Diwali at North 24 Pargana...

Dakshineswar Temple decorated with lights for the Kali Puja and Diwali at North 24 Pargana...

Firecrackers light up the sky as people celebrate Diwali festival in Mumbai...

Firecrackers light up the sky as people celebrate Diwali festival in Mumbai...

School students lighting earhen lamps at Tulsi Ghat in Varanasi...

School students lighting earhen lamps at Tulsi Ghat in Varanasi...

A view of decorated Madan Mohan Malviya Stadium with oil lamps during Deepwali festival...

A view of decorated Madan Mohan Malviya Stadium with oil lamps during Deepwali festival...

Illuminated Golden Temple on the eve of Diwali in Amritsar...

Illuminated Golden Temple on the eve of Diwali in Amritsar...

Children with special needs light firecrackers as they celebrate Diwali...

Children with special needs light firecrackers as they celebrate Diwali...

Border Security Force (BSF) soldiers enjoy Diwali celebrations on the eve of Diwali...

Border Security Force (BSF) soldiers enjoy Diwali celebrations on the eve of Diwali...

Hindu priests light oil lamps in a formation of the 'Swastika', a Hindu symbol of peace...

Hindu priests light oil lamps in a formation of the 'Swastika', a Hindu symbol of peace...

A Border Security Force (BSF) soldier lights sparklers on the eve of Diwali...

A Border Security Force (BSF) soldier lights sparklers on the eve of Diwali...

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