Mumbai: Volumes of exchange-traded currency derivatives on the National Stock Exchange (NSE) have plummeted by almost 90% ahead of the May 3 deadline to comply with the central bank’s directive for trades to be backed by underlying exposures.Average daily turnover for currency futures and options, including notional turnover for currency options, on the country’s largest stock exchange was at ₹20,646.06 crore in April, registering a decline of 87% from ₹1.56 lakh crore in March, exchange data showed.From April 2022 to March 2024, the average daily turnover for each month was at ₹1.51 lakh crore in the exchange-traded currency derivative (ETCD) market, largely driven by retail…
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