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August Currency Futures Rise, Rupee Weakens Amidst OI Surge

By ThePip DeskAugust Currency Futures Rise, Rupee Weakens Amidst OI Surge

August currency futures strengthen with a 9.84% OI jump, while the partially convertible rupee weakens against the dollar to 95.23.

August currency futures traded stronger, reaching 95.3050 today, despite a weaker partially convertible rupee. The contract’s open interest (OI) also saw a significant surge of 9.84% for the August expiry.

Rupee Weakens Against Dollar

The partially convertible rupee settled weaker at 95.23, compared to its previous close of 95.2250 on Thursday. It opened the trading session at 95.27.

  • The rupee touched a day’s high of 95.2875.
  • The day’s low for the rupee was 95.23.

August Futures See OI Surge

The August currency futures contract opened weaker at 95.4500 from its previous closing price of 95.3375. It is currently trading at 95.3050, reflecting a spread of 0.0200.

  • The total volume for the August contract stood at 6,25,416.
  • Open Interest (OI) for the August contract reached 15,98,895.
  • This represents a 9.84% increase from its previous OI of 14,55,721.

The notable increase in open interest for the August expiry contract suggests growing participant activity in the currency derivatives market, despite the spot rupee’s slight depreciation.

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