Section 4 in The Currency Futures (Reserve Bank) Directions, 2008
4. Features of currency futures.
- Standardized currency futures shall have the following features :-(a)Only USD-INR contracts are allowed to be traded.(b)The size of each contract shall be USD 1000.(c)The contracts shall be quoted and settled in Indian Rupees.(d)The maturity of the contracts shall not exceed 12 months.(e)The settlement price shall be the Reserve Bank's Reference Rate on the last trading day.
