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RIYADH: The Dubai Gold and Commodities Exchange, known as the DGCX, recorded an average monthly open Interest of 134,154 contracts during March, registering a total trading volume of $15.74 billion.
In response to more inflation, political decisions and ongoing geopolitical conflict around the world, there was a spike in demand for the DGCX’s G6 currency futures contract during March.
It recorded a year-to-date growth of 140.11 percent, compared to the same period last year.
Among the G6 currency pairs, the Euro and British Pound Futures Contracts recorded a year-on-year advanced growth of 527.5 percent and 261.5 percent respectively.
Trading volumes in the Japanese Yen, as well as the Australian Dollar, registered a significant growth of 339.2 percent and 755.76 percent respectively.
In addition, the DGCX’s Pakistani Rupee Futures Contract also registered the highest monthly volume since its launch in 2021, with a combined total of 7,158 lots valued at US$ 79.52 million during the month.
“Trading activity for March was led by the DGCX’s currency portfolio, as market participants looked to manage currency risk in an uncertain climate arising from geopolitical events and changing monetary policies,” Les Male, CEO of DGCX said.
“The G6 Currency portfolio in particular saw a significant increase in demand, with all six contracts witnessing an uptick in volumes. We remain committed to providing our members with innovative and value-added products and continue to work towards offering them the best possible trading experience,” he added.
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