Mumbai: Currency derivatives turnover on leading stock exchange BSE on Tuesday hit record high of Rs 11,634.42 crore, surpassing rival bourse NSE's turnover for the session.
As many as 18.14 lakh contracts were traded in the currency derivative segment of the BSE.
Currency derivative contracts allow investors to take position on change in the foreign exchange rates between pairs of two currencies, such as rupee and dollar.
In comparison, NSE saw Rs 11,284.51 crore turnover from 17.39 lakh contracts. The exchange is generally the preferred bourse for currency derivative trading.
BSE's currency derivative turnover today was also higher than that of MCX-SX which saw a trading value of Rs 1,484.14 crore in the segment today.
"BSE recorded the highest turnover in the Currency Derivatives trading today," the exchange said in a statement.
"Within thirteen months of its launch, the currency Derivatives turnover at BSE has become the highest in the country vis-a-vis other national exchanges," it added.
The exchange has attributed the success of its currency derivatives segment "to the new trading technology at BSE which offers a response time of 200 microseconds".
"Additionally, the exchange has the lowest transaction fees allowing investors to trade frequently," BSE said.
Daily currency derivative turnover on the USE stood at Rs 3 lakh.
Together the four bourses -- BSE, NSE, MCX-SX and USE -- accounted for a total turnover of Rs 24,403.1 crore in the segment for the day.
Of this, currency derivative value on the BSE represented 47.68 percent, followed closely by NSE at 46.24 percent.
Trading in currency derivatives in India was introduced in 2008 with NSE (National Stock Exchange) being the first bourse to offer such trades.
In November, 2013, BSE had become the country's fourth bourse to offer currency derivatives trading.
