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Dubai: Dubai Gold & Commodities Exchange (DGCX) continued to record steady year-on-year growth volumes after notching up a 14 per cent increase for April as compared with the same month last year.
The exchange traded 98,322 contracts, valued at $4.4 billion (Dh16.1 billion) during April. The growth was driven by higher volumes in Indian rupee-dollar futures, as well as gold and WTI crude oil volumes.
The total average daily volume for DGCX was 4,682 contracts in April, a 19 per cent increase compared to the corresponding period last year.
"The well balanced and diversified offering of DGCX across the distinct product segments of precious metals, energy and currencies has supported year, to date, volume growth," said Malcolm Wall Morris, DGCX chief executive.
Volume for gold futures grew by 173 per cent month-on-month and were valued at $1.3 billion.
Trading in Indian rupee-dollar futures also more than doubled this month, encouraged by contract changes at the end of last year and a recent awareness campaign.
Wall Morris said they had launched new initiatives as part of efforts to enhance awareness of derivatives trading in the Gulf region.
These include specialised training programmes on futures trading for end-clients and new entrants, as well as seminars.
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