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No India backing for contract
- United Arab Emirates: Saturday, June 09 - 2007 at 09:56
The Dubai Gold and Commodities Exchange launched its non-deliverable rupee-dollar contract on Thursday without the backing of India's Central Bank, reported Reuters. The DGCX claims it approached the bank in order to discuss the contract but, according to CEO David Rutledge, it 'would not express an opinion one way or the other'. The DGCX launched the contract to take advantage of India's expanding foreign trade.
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Jonathan Sheikh-Miller, Deputy EditorSaturday, June 09 - 2007 at 09:56 UAE local time (GMT+4)
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