The Dubai Gold & Commodities Exchange (DGCX) traded 111,348 contracts in August worth $5.71bn, representing a 27 per cent monthly decline in volumes.
Year-to-date volumes recorded a 34 per cent annualised increase, with over 1.2 million contracts.
Of the total volume of trades in August, currency futures accounted for 77,347 contracts and an average daily volume of 3,516 contracts.
Indian rupee futures contracts continued their momentum with a third consecutive record monthly volume of 43,547 contracts in August, valued at $1.86bn, almost twice the number of contracts in July. This represented a 769 per cent annual increase and an average daily volume of 1,979.
“The consecutive records in the Indian rupee futures contract and the excellent overall growth of DGCX currency futures reflects the strength of the exchange’s currency derivatives offering,” says Eric Hasham, chief executive of DGCX.
Total trading volumes on the DGCX rose to an all-time monthly high in June of 192,138 contracts, surpassing the previous peak achieved in November 2009.